Investors have been awaiting details about Ferrari’s planned initial public offering (IPO) for months, but the marque’s parent company has finally put some rumors to rest.

The Fiat Chrysler Automobiles (FCA) Group finally confirmed to the world that Ferrari’s IPO is, indeed, occurring, and once the exotic car manufacturer enters the stock market, you can find it under the ticker name “RACE.” An Oct. 12 press release from the group announced that prices are set at $48 to $52 per share, but held back from stating exactly when these shares will be available.

As the release explained, FCA currently owns 90 percent of Ferrari, while Piero Ferrari, son of Enzo Ferrari, still owns 10 percent. A total of 9 percent of the company’s ownership will become available to the public during the IPO, leaving FCA with an 80 percent stake.

The 9 percent making its way to the stock market will be broken up into 17,175,000 shares, each valued at $48 to $52 – assuming a midpoint of $50 is met, this puts the total value of this stake at $858,750,000. An additional 1 percent, or 1,717,150 shares, is being offered to the banks underwriting the IPO, which include UBS Investment Bank and BofA Merrill Lynch.

(See Also: Tesla Autopilot Coming for Model S & Model X This Week)

Speculation in July of this year set Ferrari’s total value at $11 billion, and with the amount asked for these shares, that estimate wasn’t far off – these prices will set the total value of Ferrari at just under $10 billion, at $9,446,075,000.

After this 10 percent has had a chance to be traded publicly for a few months, FCA will make its remaining 80 percent ownership available to stockholders, putting 90 percent of Ferrari’s valuation into the market. Piero will still retain his 10 percent at that point in time.

Though the date still has yet to be set, CNBC’s Bob Pisani has an estimate – in an Oct. 12 article, he says he’s been “told the deal will likely price on Oct. 20, with trading at the NYSE to begin on Oct. 21.”

Stay with us for more updates from Ferrari and the industry as they are released, and find your own Ferrari from our exclusive listings below.

Ferraris For Sale

(Source: FCA Group, Ferrari, CNBC)

See More Industry Reports