Report: Ally Financial’s IPO Garners $2.38 Billion

Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, raised $2.38 billion in its initial public offering after pricing the shares at the bottom of the proposed range. The U.S. Treasury Department, Ally’s majority shareholder, sold 95 million shares for $25 apiece, according to data compiled by Bloomberg. […]