Chrysler Group Files for an IPO

(CNN) — Chrysler Group may soon be headed back to the U.S. Stock Market. The automaker announced Monday it has filed to move forward with an initial public offering.

The IPO is being led by J.P. Morgan. The number of shares to be offered and the price range have not yet been determined. Shares being sold will come from a workers retirement trust that owns a 41.5 percent stake in the company.

Italian automaker FIAT rescued Chrysler from bankruptcy in 2009 and now owns 58.5 percent of the company.

The IPO process could help the trust and FIAT agree on a fair market value for the company. It still must be approved by the Securities and Exchange Commission.

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