US: Speculation grows concerning imminent Delphi IPO
Reports are circulating Delphi is to launch a US$550m initial public offering possibly even as early as today (4 November), although others suggest a more likely date of mid-November.
The automotive supplier has previously said any IPO would be used primarily to fund its operations, acquire capital equipment and repay debt.
Delphi emerged from bankruptcy in 2009 and the IPO plan comes as many suppliers in the US post higher profits amid concerted auto industry recovery.
The US manufacturer was not immediately available for comment but further details are expected later today.