Italian sportscar maker Ferrari could soon be listed on the New York Stock Exchange.

Its parent company filed an initial public offering with US regulators to list Ferrari shares in New York.

In paperwork filed with the Securities and Exchange Commission, Fiat Chrysler Automobiles proposed an IPO of 10% of the luxury carmaker’s shares.

Fiat Chrysler CEO Sergio Marchionne has said the public offer will be made in the fourth quarter. That was a slight delay from earlier projections of the first half of the year due to tax considerations.

Ferrari’s famous ‘prancing horse’ logo

Fiat hopes the move will help it raise cash to support its plan to invest €48bn ($61bn) over five years.

Ferrari, based in Maranello, northern Italy, is a relatively small player in the global automobile industry. The luxury sports car manufacturer, founded by Enzo Ferrari in 1929, shipped 7,255 cars last year.

The “prancing horse” brand is also famous for its Formula One racing team.