Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

A Member of the Law Professor Blogs Network

Thursday, March 31, 2011

Treasury Named as Selling Shareholder in Ally Financial Inc.’s IPO Registration Statement

The U.S. Department of the Treasury today announced that it has agreed to be named as a selling shareholder of common stock of Ally Financial Inc. (Ally) in Ally’s registration statement filed with the Securities and Exchange Commission (SEC) for a proposed initial public offering.  Treasury will retain the right, at all times, to decide whether and at what level to participate in the offering.
 
Treasury owns approximately 74 percent of the issued and outstanding common stock of Ally, as of December 31, 2010, as well as approximately $5.9 billion of mandatorily convertible preferred stock.   
 
Citi, Goldman, Sachs & Co., J.P. Morgan and Morgan Stanley are acting as Joint Bookrunners for the offering.   
 

http://lawprofessors.typepad.com/securities/2011/03/treasury-named-as-selling-shareholder-in-ally-financial-incs-ipo-registration-statement.html

News Stories | Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef0147e3a5b4dc970b

Listed below are links to weblogs that reference Treasury Named as Selling Shareholder in Ally Financial Inc.’s IPO Registration Statement:

Comments

Post a comment