Ferrari is about to spread a lot more of its stock around.
The company sold 10 percent of its shares in a much-publicized IPO on the New York Stock Exchange in October. Piero Ferrari, son of Ferrari's founder, also owns a 10-percent stake.
On Jan. 3, Fiat Chrysler's remaining 80-percent stake will be spun off to its shareholders with those shares slated to begin trading on the Milan stock exchange the following day.
Fiat Chrysler investors will get one share of Ferrari for every 10 of Fiat Chrysler. The last day to buy Chrysler and get Ferrari stock is tomorrow, Dec. 30.
After the spinoff, the Agnelli family's holding company, Exor, will own 24 percent of the company's shares. Piero Ferrari will also continue to own 10 percent of the shares. But together they will control almost half of the voting rights.
Ferrari was one of the most high-profile IPOs of 2015 and one of only two in the fourth quarter (next to Atlassian) that was able to price above its proposed midpoint, but after a big splash in the first week of trading the stock dropped below its initial price of $52 and is now trading around $47.
Can Ferrari get back some of its lost luster? It's going to be a tough sell.