GE's $3 billion credit card IPO pegged to U.S. consumer recovery

[riky]

GE's $3 billion credit card IPO pegged to U.S. consumer recovery

<p><a href="http://news.yahoo.com/ges-3-billion-credit-card-ipo-pegged-u-205405396--sector.html"><img src="http://l.yimg.com/bt/api/res/1.2/CGuqg4m0SYSye5YrhSQq7g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-07-18T205405Z_1006950001_LYNXMPEA6H0YI_RTROPTP_2_CBUSINESS-US-GENERAL-ELECTRIC-SYNCHRONY.JPG" width="130" height="86" alt="The logo of US conglomerate General Electric is pictured at the company's site in Belfort" align="left" title="The logo of US conglomerate General Electric is pictured at the company's site in Belfort" border="0" /></a>The success of General Electric Co's impending initial public offering for its private-label credit card unit could ride on investors' willingness to bet that a lukewarm consumer-led U.S. economic recovery heats up. GE began its investor road show on Friday for the IPO of the unit, to be called Synchrony Financial, as it revealed new details about the business. Set for the end of the month, the IPO of 15 percent of Synchrony is expected to raise around $3.1 billion, surpassing Ally Financial Inc as the biggest U.S. financial services stock flotation this year. While the IPO could enjoy a positive initial reception given the strong demand for offerings this year and investors' eagerness to deploy cash in the market, its longer-term performance will likely be hitched to the strength of the belief in a consumer recovery.</p><br clear="all"/>

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