The initial public offering market has jilted most new stocks in recent weeks, but Fiat Chrysler Automobiles is moving forward with its plan to spin off Ferrari at a valuation of about $9.4 billion, at the midpoint of the marketed range. Ferrari, which sells six-figure Italian luxury sports cars, set a price range Friday that it will use to gauge investor demand for the IPO, which will be listed on the New York Stock Exchange. [...] this low-volume strategy also limits revenue and profit growth, as Ferrari said in the section of its regulatory filing that describes potential risks of investing in the IPO. Pure Storage, a data-storage provider, was priced at the midpoint of its marketed range and decreased in its first day of trading Wednesday, while Digicel Group, a mobile and cable services provider, canceled its IPO.

 

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