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Wednesday, 9 November 2011

Sell Up to $578 Million in Shares in IPO planned by Delphi

Delphi
Delphi Automotive Plc will sell as much as $578 million in shares in an initial public offering that would value the former parts unit of General Motors Co. at as much as $7.88 billion.

Delphi offers the shares at $ 22 to $ 24 each, and is trying to sell 24.1 million shares, according to a filing with the Securities and Exchange Commission. John Paulson hedge fund Paulson & Co. is trying to sell 20.6 million shares, the interest offered on the company. Delphi will receive any benefits of the offer.Automobile News

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