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U.S. Treasury announces Ally Financial IPO
WASHINGTON (MarketWatch) -- The Treasury Department announced Thursday that it has started the process of an initial public offering of Allly Financial Inc. common stock. In a statement, Treasury said it is selling 95 million Ally common shares. It has granted underwriters an option to purchase an additional 14.25 million Treasury shares. The U.S. government now holds 177.3 million Treasury shares, or about 37% of the company's common stock. Citigroup Global Markets Inc, Goldman, Sachs & Co, Morgan Stanley & Co and Barclays Capital Inc are serving as the global coordinators and joint book-running managers of this offering.
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