Chrysler Won't Commence IPO in 2013, Fiat Says (GM) (F)

(Updated - November 25, 2013 8:30 AM EST)

Amid recently speculation, Fiat's (OTCBB: FIATY) Chrysler LLC will not launch its IPO before the end of 2013.

In a statement today, Turino, Italy-based Fiat (Fabbrica Italiana Automobili Torino) said that it expects Chrysler Group to continue working on the necessary steps to enable an initial public offering to be launched in the first quarter of 2014. The company said it would depend on market conditions before any public offering commences, though some now expect a Q114 launch for Chrysler.

News comes following reports over the weekend that Chrysler might raise $1.5 to $2 billion with the IPO, putting a valuation of $10 to $12 billion on the company.

Fiat S.p.A. acquired Chrysler LLC back in 2011 following the company entering bankruptcy protection in 2009. Under the watch of CEO Sergio Marchionne, Chrysler has seen its sales numbers show marked sales improvement over the last few years.

Peers General Motors (NYSE: GM) and Ford Motor (NYSE: F) are both positive early Monday following the news.

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