Ally Financial files for IPO

|About: Ally Financial Inc. (ALLY)|By:, SA News Editor

The Treasury will be selling 95M shares - more than half of its stake - in the lender formerly known as GMAC. The pricing is expected to be in the $25-$28 per share range. The underwriter greenshoe could see Treasury unloading another 14.25M shares. The sale would take Treasury's stake in Ally down to the area of about 15%.

The move comes after Ally's capital return plan was approved by the Fed last night (its plan was rejected last year).

The stock will trade on the NYSE under the symbol ALLY.

SEC Form S-1