April 9, 2014 / 9:06 PM / in 4 years

Ally Financial IPO priced at $25 per share-underwriter

April 9 (Reuters) - Ally Financial Inc’s initial public offering has been priced at $25 per share, an underwriter said, valuing the bailed-out auto lender at about $12.04 billion.

Ally’s IPO raised $2.38 billion, after the offering of 95 million shares was priced at the low end of its expected range. The company previously said it expected to price its offering at between $25-$28 per share.

The US Department of Treasury is offering all the shares of Ally.

Shares of the Detroit-based auto lender, which are expected to start trading on Thursday, will be listed on the New York Stock Exchange under the symbol “ALLY.” (Reporting by Avik Das in Bangalore)

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