Ally Financial prices IPO at $25, the low end of the range

By Renaissance Capital,

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Ally Financial, a leading global auto finance company and former unit of GM (GMAC), priced its $2.4 billion IPO at $25, the low end of the range of $25-$28. The deal consisted of 95 million shares, all of which were sold by the US Treasury. At the offer price, the company commands a market cap of $12.1 billion. Ally Financial plans to list on the NYSE under the symbol ALLY. Citi, Goldman Sachs, Morgan Stanley and Barclays were the lead underwriters on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: ALLY

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