Fiat Chrysler Automobiles formally filed its initial public offering on Thursday to spin offÂ Ferrari into its own separate company.
The filing doesn’t specify price or number of shares to be offeredÂ when the shares are publicly available sometime after Oct. 13.
Roughly 10 percent of the company will be publicly traded, with the rest of the company remaining under control ofÂ existing FCA shareholders and Piero Lardi Ferrari, Enzo Ferrari’s son and current vice chairman.
The IPO documents offers an exhaustive glimpse at the supercar maker’s finances and income. The Maranello-based manufacturer said they made â‚¬2.7 billion ($2.96 billion) in revenue in 2014Â with profits of â‚¬265 million ($295 million). About 70 percent of the company’s revenues came from cars they produced, 11 percent came from engine sales to Maserati and the rest came from sponsorships and commercial revenue.
Sergio Marchionne, who is CEO of FCA, will stay on as chairman of the new company toÂ be based in the Netherlands. The company will keep its Maranello factory and Formula One team based in Italy.
Ferrari’s F1 team and consumer-facing business â€” aside from cars â€” figures heavily into the future company’s success. In the IPO, the company mentions that its F1 program and sponsorships would factor into the viability of the future business.Â The company also mentions that its low-volume production strategy would remain, keeping its cars exclusive to well-heeled buyers.