Seeking Alpha

Ally expects to start IPO roadshow in H1

  • Ally Financial CEO Michael Carpenter believes the auto-financing firm will hold an IPO roadshow in Q1 or early Q2.
  • The government, which bailed out Ally out during the financial crisis, holds 37% in the company but is likely to have sold its stake by the end of this year.
  • "It's really up to Treasury in terms of how they exit," Carpenter told Bloomberg. "Chances are the Treasury won't be the shareholder by the end of the year.
  • His comments come after the government sold $3B worth of Ally shares in a private placement earlier this month.
Comments (1)
  • The Long Tail of Finance
    , contributor
    Comments (893) | Send Message
     
    Seems only hedge funds can buy the govt shares they've been selling recently?
    26 Jan 2014, 09:02 AM Reply Like
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