Monday, Oct 24, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Stock Market

Chrysler files paperwork for initial public offering of some of its shares

DETROIT — Chrysler Group LLC is preparing an initial public offering of some of its shares.

Chrysler filed paperwork for the IPO with the federal government today.

Chrysler shares haven’t been publicly traded since 1998, when the company merged with Daimler AG. It is now majority owned by Italian automaker Fiat SpA.

The shares that will be sold are owned by a United Auto Workers trust that pays for retired workers’ health care. The trust requested that Chrysler sell the shares and will receive all of the proceeds from the offering.

The number of shares that will be sold and the offering price haven’t yet been determined, but Chrysler set a maximum proposed offering price of $100 million. That may change as bankers gauge interest in the deal.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…