Fiat Chrysler Automobiles targets October IPO date

|By:, SA News Editor

Fiat Chrysler Automobiles has a target date of October 13 for its NYSE launch, according to Fiat (OTCPK:FIATY) CEO Sergio Marchionne.

major merger hurdle was cleared this week by Fiat to help keep the reorganization on track.

Paying for Fiat's five-year, €48B ($64B) growth plan could be a challenge. Marchionne says a decision on a capital increase will be made in October after the new FCA shares are trading hands.

What to watch: Chrysler has had strong sales in the U.S. this year and is tipped by Kelley Blue Book to show double-digit growth for August. Automobile industry analysts think the NYSE listing could provide another jolt for the brand and help reinforce the trend of the Big Three (GM, F) out-performing some foreign automakers (Volvo, Volkswagen, Hyundai) unable to compete at scale.