U.S. bank holding company, Ally Financial, is planning to launch a new initial public offering (IPO), The Wall Street Journal reports. The financial details of the IPO, to be launched in the second quarter of 2011, have not been disclosed.
The offering will let the U.S. government further unwind its $17.2 billion bailout of the company. Earlier in March, the U.S. Treasury Department offloaded its $2.7 billion stake of Ally Financial’s trust preferred securities.
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