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Chrysler Files For IPO Valued At $100 Million

Chrysler Files For IPO
Reuters
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DETROIT, Sept 23 (Reuters) - Chrysler Group LLC on Monday filed paperwork for an initial public offering, an action that could slow majority owner Fiat's plans to take full ownership of the U.S. automaker.

The offering will be underwritten by J.P. Morgan, the company said in a securities filing posted on Monday.

Chrysler's minority shareholder, the United Auto Workers retiree healthcare trust fund, decided in January to sell part of its 41.5 percent stake in the company in an IPO.

Sergio Marchionne, chief executive of both Chrysler and Fiat, said in mid-September that the IPO is likely to take place in the first quarter of 2014.

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Before You Go

States Spending The Most On Cars
States Spending The Most On Auto Expenses(01 of11)
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See the full resolution infographic by Valerie Willis at bundle.com. (credit:bundle.com)
10. Dallas, TX(02 of11)
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Monthly gas expenses: $346.50Monthly auto expenses: $195.50Total monthly car expenses: $542 (credit:Getty)
9. Houston, TX(03 of11)
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Monthly gas expenses: $345Monthly auto expenses: $198.50Total monthly car expenses: $544 (credit:Getty)
8. Chandler, AZ(04 of11)
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Monthly gas expenses: $325Monthly auto expenses: $220.50Total monthly car expenses: $546 (credit:AP)
7. Colorado Springs, CO(05 of11)
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Monthly gas expenses: $348Monthly auto expenses: $208Total monthly car expenses: $556 (credit:AP)
6. Virginia Beach, VA(06 of11)
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Monthly gas expenses: $363.50Monthly auto expenses: $194.50Total monthly car expenses: $558 (credit:AP)
5. Nashville, TN(07 of11)
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Monthly gas expenses: $368Monthly auto expenses: $191Total monthly car expenses: $559 (credit:Getty)
4. San Jose, CA(08 of11)
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Monthly gas expenses: $343Monthly auto expenses: $231Total monthly car expenses: $574 (credit:AP)
3. Durham, NC(09 of11)
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Monthly gas expenses: $376.50Monthly auto expenses: $201Total monthly car expenses: $578 (credit:WikiCommons)
2. Plano, TX(10 of11)
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Monthly gas expenses: $420.50Monthly auto expenses: $241.50Total monthly car expenses: $662 (credit:WikiCommons)
1. Austin, TX(11 of11)
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Monthly gas expenses: $487Monthly auto expenses: $276.50Total monthly car expenses: $764 (credit:AP)
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