Monday March 18th, 2002

Ferrari president Luca di Montezemolo is keen to see the sports car and racing company being floated on the stock market.

Company's chairman di Montezemolo, believes an IPO (Initial Public Offering) will help fund Ferrari's expansion into entertainment, including the development of theme parks.

An IPO will however require the approval of Ferrari's main shareholder, the Italian Fiat automotive group that owns 90 percent of the company.

"At the moment there is no decision," di Montezemolo was quoted as saying by the Financial Times. "But if I could make a suggestion to my main shareholder, I would say they should think about an IPO."

Piero Lardi-Ferrari, son of the company's founder, holds the remaining 10 percent of the company.

Published at 14:56:12 GMT