Chrysler Targeting IPO In Late 2011

Chrysler Targeting IPO In Late 2011

Chrysler CEO Sergio Marchionne announced that parent company Fiat is looking to increase its stake in Chrysler to 35 percent, and is looking to bring out a Chrysler IPO in the second half of 2011.

“I don’t think it’s the first part; I think it’s a second-part-of-the-year event,” Marchionne told the assembled media at Chrysler’s Orlando dealer meeting.

Marchionne also discussed the prospect of increasing Fiat’s stake in Chrysler to 35 percent, from its current 20 percent. “What is important to me is to reach the goals we are set [on] reaching; share transferring is just a consequence of the fulfilling of our obligations with the U.S. and Canadian governments.”

In addition to the 16 new products shown at the dealer meeting, Marchionne confirmed that an all electric Fiat 500 would arrive in 2012, and that Canada and Mexico would recieve that car, along with Alfa Romeo products.

[Source: Automotive News]

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