Seeking Alpha

Ally Financial files for IPO

  • 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
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector