Fiat Chrysler stock trading starts Monday
DETROIT (AP) — Fiat Chrysler Automobiles begins trading on the New York Stock Exchange on Monday, as the newly merged company seeks to raise its profile and give U.S. investors a chance to own a piece of the Chrysler comeback.
The company's stock will be traded under the symbol FCA. It's expected to open at about $8.90, Friday's closing price for the American Depositary Shares of Fiat SpA.
Chrysler is now profitable, driven by a rebound in U.S. sales five years after a trip through bankruptcy and a takeover by Fiat led by the U.S. government. But that performance is offset by Fiat's struggles in Europe.
Only a limited number of shares will go on sale Monday. The company is likely to sell about 85 million shares it holds later in the year.