Chrysler prepares for IPO - KMSP-TV

Chrysler prepares for IPO

Posted: Updated:

DETROIT (AP) - Chrysler Group is preparing an initial public offering of some of its shares.

Chrysler filed paperwork for the IPO with the federal government late Monday.

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.

  • Local NewsLocal NewsMore>>

  • Power outage numbers across southeast Michigan

    Power outage numbers across southeast Michigan

    Monday, July 28 2014 4:38 PM EDT2014-07-28 20:38:56 GMT
    As of 4 p.m., approximately 126,000 DTE Energy customers are out of power due to the high winds and lightning that hit southeast Michigan Sunday afternoon. DTE has restored power to 60,000 of the customers impacted by the storm.
    As of 4 p.m., approximately 126,000 DTE Energy customers are out of power due to the high winds and lightning that hit southeast Michigan Sunday afternoon. DTE has restored power to 60,000 of the customers impacted by the storm.
  • Let It Rip Weekend Proposal One and the Mongo Brothers

    Let It Rip Weekend Proposal One and the Mongo Brothers

    Let It Rip Weekend Proposal One and the Mongo Brothers

    Monday, July 28 2014 2:46 PM EDT2014-07-28 18:46:07 GMT
    How is Proposal One tied into funding our local schools, police and fire departments, plus should African Americans abandon the Democratic Party and the UAW?
    How is Proposal One tied into funding our local schools, police and fire departments, plus should African Americans abandon the Democratic Party and the UAW?

  • Porch shooter Theodore Wafer back in court for 3rd day of trial

    Porch shooter Theodore Wafer back in court for 3rd day of trial

    Monday, July 28 2014 2:34 PM EDT2014-07-28 18:34:31 GMT
    The trial of a Detroit-area man who killed a young unarmed woman on his porch is entering its first full week of testimony.
    The trial of a Detroit-area man who killed a young unarmed woman on his porch is entering its first full week of testimony.
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices