$heff's $tation of $tocks & $olid DD

[trade2much]

This is puzzling to me - Looks like the taxpayers bought a Previously Private company????

7:57AM Ally Financial (ALLY) announces launch of IPO; U.S. Department o the Treasury is offering 95 mln shares of Ally common stock at a price per share ranging between $25 and $28 (IPOXX) :

Ally Financial announced that it has launched an initial public offering of shares of its common stock. The shares will be offered by the U.S. Department of the Treasury as part of its planned exit of its investment in Ally.
Treasury is offering 95 mln shares of Ally common stock at a price per share ranging between $25 and $28.
Ally stock is expected to trade on the New York Stock Exchange under the symbol "ALLY".
Citigroup, Goldman, Sachs & Co., Morgan Stanley and Barclays are acting as joint global coordinators on the offering.