Treasury: Ally Financial IPO will generate $2.38B for taxpayers
April 09, 2014 at 18:00 PM EDT
The Department of the Treasury on Wednesday announced plans to sell 95 million shares of Ally Financial Inc. to raise $2.38 billion in the company's initial public offering, which is slated for Thursday.. The U.S. government owned the shares, about 37 percent of Ally's common shares, as part of the Troubled Asset Relief Program.