Chrysler files for $100M IPO

|By:, SA News Editor

The automaker hasn't yet provided a proposed symbol. JPMorgan is the lead underwriter. (S-1)

Chrysler had 1H revenue of $33.4B (+1% Y/Y), and net income of $764M (down from $966M a year earlier). 1H operating cash flow was $2.18B, and capex $1.66B.

Cash/equivalents amounted to $12.2B at the end of 1H, restricted cash $349M, and long-term financial liabilities $13.1B.

Fiat (FIATY.PK) owns 58.5% of Chrysler. CEO Sergio Marchionne mentioned last week a Chrysler IPO filing is on the way, and that the company is likely to begin trading in Q1 2014 (though it could list this year). Fiat wants to gain full control over Chrysler, but has been at odds with the UAW's healthcare trust (owns the remaining 41.5%) over price.