Marchionne sees Chrysler IPO in 2011
Posted on July 25th, 2010 • by Bill Cawthon
Speaking at the Walter P. Chrysler Museum last night, Chrysler CEO Sergio Marchionne said he doesn’t see an initial public offering of stock in Chrysler Group before next year.
Marchionne said he wants a full year of financial results for considering a stock offering. He also wants to gauge market reaction to the General Motors’ IPO expected later this year. A public stock offering will allow the government and the United Auto Workers’ retiree health trust to reduce their equity holdings in the two automakers.
Commenting on GM’s acquisition of AmeriCredit, Marchionne said the move will free Ally Fianancial, the financing source for both Chrysler and GM, to focus more on Chrysler’s customers and dealers.
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