FRANKFURT - Ferrari, which is owned by Fiat, is not planning an initial public offering (IPO), its chairman, Luca di Montezemolo, told a German newspaper.

"No, there is nothing on the agenda. And we are not planning anything," Montezemolo told daily Sueddeutsche Zeitung in an interview published on Monday.

"Fiat does not need any money at the moment, they are doing fine. If you ask me what will happen in 10 years: no idea. But at the moment it is not on the agenda," he said.

Sources with direct knowledge of the matter told Reuters in September that several investment banks had approached Fiat with a proposal to list Ferrari on the Hong Kong stock exchange.