Ally to file for IPO in next two weeks -sources

NEW YORK, March 28 (Reuters) – Ally Financial, the auto and
mortgage lender majority-owned by the U.S. government, is
expected to file paperwork for its initial public offering in
the next two weeks, two sources familiar with the situation
said on Monday.

The IPO will ultimately raise between $6 billion and $7
billion, including common stock and convertible securities, one
of the sources said. Citigroup Inc (C.N: Quote, Profile, Research), Goldman Sachs Group
Inc (GS.N: Quote, Profile, Research), JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) and Morgan Stanley
(MS.N: Quote, Profile, Research) will be listed as the four lead underwriters on the IPO
paperwork, that source said.

Both sources said that the filing, which will be made with
the U.S. Securities and Exchange Commission, will be for a
smaller, placeholder amount.

Details of Ally’s IPO filing are not public and the sources
declined to be named. Ally Financial and the banks declined
comment.
(Reporting by Clare Baldwin and Alina Selyukh)

Ally to file for IPO in next two weeks -sources