Seeking Alpha

Chrysler could file for IPO this week

  • Chrysler is preparing to file for an IPO this week and could list this year, CEO Sergio Marchionne has told the FT, although the flotation is more likely to take place in Q1 2014.
  • Marchionne, who's also the CEO of 58.5% Chrysler owner Fiat (FIATY.PK), said he's going to the market to determine the value of the shares held by a retirement trust, which owns the rest of the U.S. car maker.
  • The trust wants $10.3B but Fiat values the holding at $4.2B. "The market will tell us. Let the market talk," Marchionne said.
  • The dispute has held up the full merger of Fiat and Chrysler, although the IPO will also delay plans to streamline the two car makers and pool their resources.
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