U.S. auto parts supplier Delphi Corp. (DelphiAutomotive) Wednesday (U.S. time May 25, 2011) that the company has submitted to the U.S. Securities and Exchange Commission, IPO (initial public offering) applications. The company said the IPO size is estimated offering financing of up to $ 100,000,000, the proceeds will be used to repay debt and purchase of fixed equipment.

    May 27, 2011 reported that Dow Jones reported that the U.S. auto parts supplier Delphi Corp. (DelphiAutomotive) Wednesday (U.S. time May 25, 2011) that the company has submitted to the U.S. Securities and Exchange Commission IPO (the first second public offering) applications. The company said the IPO size is estimated offering financing of up to $ 100,000,000, the proceeds will be used to repay debt and purchase of fixed equipment.

    Last week, Reuters quoted an informed source as saying that Delphi has hired JP Morgan and Goldman Sachs Group activities to assist its IPO, and the appointment of Barclays Capital, Deutsche Bank, Merrill Lynch, Citigroup and Bank of America as the four banks Joint Bookrunner IPO activity, the company expects the first launch in the third quarter of this year, IPO activity.

    Delphi was originally a U.S. subsidiary of General Motors, the U.S. auto market is still the major auto parts suppliers. The company in October 2009 out of bankruptcy reorganization. Delphi and former parent General Motors, the U.S. Federal pension insurance companies to (PBGC) buy back stock after, including SilverPointCapitalLP and ElliottManagement creditors, including the end of 2009 nearly 3.5 billion U.S. dollars by exempting non-performing loans and the acquisition of Delphi Automotive , $ 900,000,000 to its investment.

    It is reported that as of March 31, 2011 only 3 months, Delphi's net profit of 215 million last year increased to 2.91 billion U.S. dollars. Net sales soared 17% to 40 billion U.S. dollars.