Delphi files for $100 million IPO
Delphi has filled out an S-1 form and handed it over to the SEC. An Initial Public Offering will soon follow, and Delphi is looking to bring in $100 million. Delphi believes that number will fluctuate as analysts evaluate the company and the strength of its balance sheet.
If you've been following the recent rash of automotive IPOs, then you might think $100 million sounds low. Analysts agree with you.
The $100 million figure is merely a placeholder value, so that filing fees can be calculated. It's quite possible that millions will be turning into billions. Recent movement in the automotive industry has investors spending serious amounts of money. General Motors hauled in $23.1 billion during its IPO at the end of 2010. Delphi has cleaned up billions of dollars in debt while slimming down its overhead.
We'll be paying close attention when "DLPH" starts scrolling across the ticker.
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