Fiat Chrysler Automobiles will float around 10 percent of Ferrari on Wall Street on Wednesday, using the stock ticker symbol RACE. The company is hoping to raise around $1 billion from the sale, thus valuing the company at $10 billion. The money raised will be used to help FCA continue with its plans to expand to become one of the world’s biggest car companies. As part of the IPO, FCA will also receive around $3.2 billion in cash from Ferrari, which will be raised by the issuing of a note, which will mature in April 2016. This means that the IPO will raise more than $4 billion for FCA, while leaving the firm’s shareholders in charge of the supercar company.