WHEN: Today, Tuesday, October 20th
WHERE: CNBC's "Squawk Alley"
Following is breaking news from CNBC's Kate Kelly on "Squawk Alley" today. All references must be sourced to CNBC.
KATE KELLY: BREAKING NEWS HERE ON THE FERRARI IPO. IT IS SET TO PRICE AFTER THE MARKET CLOSED TODAY AS HIGH AS $53 PER SHARE. IF IT CAME AT THAT PRICE, THAT WOULD BE A DOLLAR ABOVE THE INTENDED PRICE RANGE OF $48 TO $52. UP UNTIL THIS MORNING, WE WERE HEARING THAT INTEREST WAS STRONG AND THAT A $52 PRICE OR THEREABOUTS WAS LIKELY. THAT WOULD BE A NICE PRICE LEVEL FOR THIS IPO. ESPECIALLY FOLLOWING A WEEK IN WHICH ONE IPO WAS POSTPONED AMID NEGATIVE PRICING PRESSURE AND ANOTHER CAME PUBLIC BELOW ITS PRICE RANGE. SO AGAIN, FINAL DECISION TO BE MADE AFTER THE MARKET CLOSES AT FOUR O'CLOCK TODAY. I'M TOLD IT WILL BE MADE SHORTLY AFTER THE MARKET CLOSE. THAT THERE IS VERY STRONG INVESTOR INTEREST AND THAT THERE'S SO MUCH THAT IT COULD SUPPORT A $53 PRICE, WHICH WOULD BE ABOVE THE RANGE.
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