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Ally Financial once bailed, now going public

The once bailed out auto lending arm of General Motors Company (NYSE:GM) is going public. Ally Financial has filed plans for an initial public offering that raise as much as $3.1 billion and cut the current Treasury Department stake in Ally to 14 percent. The shares are expected to sell between the ranges of $25 to $28 a share. In the IPO, the Treasury will sell 95 million shares. Ally is expected to list on the NYSE under the ticker symbol “ALLY”.