GE Could Value Its Money Bank At $1.76 Billion and 2 Other Dow Movers To Watch
General Electric Co. (NYSE:GE): Current price $24.26
As GE pulls back from the financial sector, it is estimated that the flotation of its GE Money Bank could value the Swiss consumer finance unit at as much as 1.53 billion Swiss francs, or $1.67 billion. On Wednesday, GE Money Bank hopes to raise as much as 1.05 billion Swiss francs from the share sale, in what will be Switzerland’s first flotation in a year. GE Capital intends to sell up to 18 million shares or 60 percent of Money Bank, which is based in Zurich.