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Ally Financial announces pricing of IPO


10 Apr 2014
Ally Financial Inc. (Ally) announced the pricing of its initial public offering of 95,000,000 shares of common stock at a price to the public of USD 25 per share. The underwriters of the offering will have a 30-day option to purchase up to an additional 14,250,000 shares of common stock from the U.S. Department of the Treasury (Treasury) at the initial public offering price.

Ally's common stock is expected to begin trading on the New York Stock Exchange on Thursday, April 10, under the ticker symbol ALLY.

All of the shares are offered by Treasury as part of its planned exit of its investment in Ally. After giving effect to the issuance and sale of shares in the initial public offering, Treasury will own 17 per cent of the shares of Ally's outstanding common stock. Including the initial public offering, Treasury has recovered USD 17.7 billion on the Ally investment, which is approximately USD 500 million more than was originally invested in the company.

Citigroup, Goldman, Sachs & Co., Morgan Stanley and Barclays are acting as joint global coordinators and joint book-running managers on the offering. Joint book-running managers also include BofA Merrill Lynch, Deutsche Bank Securities and J.P. Morgan.
Source: Dion Global   Type: IPO Related