Chrysler Officially Files Initial Public Offering Paperwork

ChryslerChryslerUnited States of America, 1925 > present70 models
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Group has officially filed its paperwork for its initial public offering, which will put it on the public stock market in the United States. Chrysler has not announced the initial stock price or the number of shares that will be offered. It will likely be listed on the stock exchange in the first quarter of 2014.

The stock being sold will come from VEBA’s share in the company, which will reduce the pension’s ownership of the company.

Until now, Chrysler has been privately held by a small group of investors with over 90% of the company held by FiatFiatItaly, 1899 > present159 models
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Group and VEBA, the healthcare pension for the United Auto Workers labor union. Fiat and VEBA have been in dispute for nearly a year over the value of Chrysler stock.

J.P. Morgan Securities will be responsible for organizing the stock sale.

General MotorsGMUnited States of America, 1998 > present8 models
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and VEBA announced yesterday that VEBA would sell $3.2 billion of GM shares back to GM.