Ally expects to start IPO roadshow in H1

|By:, SA News Editor

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.