(NEW YORK) — Four years after the automaker filed for bankruptcy and was rescued by the Italian carmaker Fiat and the U.S government, Chrysler has filed to become a public company again.
Automakers have recently benefited from increases in the home-building and energy sectors, which are significant truck purchasers, Wall Street Journal reports. The Journal also says “slow-but-steady” job growth has boosted truck sales.
If the SEC approves the IPO and the stock comes to market, it would be the first time since 1998 that all three Detroit automakers are publicly traded, according to USA Today.
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Madison Park, Keith Allen and Andreas Preuss, CNN