Fiat Chrysler Plans Ferrari IPO – Wall Street Journal

MILAN—Fiat Chrysler Automobiles NV will spin off Ferrari through an initial public offering next year, as Chief Executive Sergio Marchionne seeks to unlock the value of the sports-car brand and fund an ambitious five-year plan.

Fiat Chrysler shares surged on the news and finished up 13% at €8.60 in Milan on Thursday.

Plans for a Ferrari listing come six weeks after Luca Cordero di Montezemolo stepped down as chairman following…