AUBURN HILLS, Mich. -

Chrysler Group announced Monday that it filed a registration statement for a proposed initial public offering.

The automaker, which filed the statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of common shares, said in its press release that it has not determined the number of shares it plans to sell or a price range for the offering.

These common shares that would be offered are proposed to be sold by the UAW Retiree Medical Benefits Trust, also referred to as the VEBA Trust.

Chrsyler said the VEBA Trust has exercised demand registration rights under a shareholders' agreement with the automaker and will receive all of the net proceeds from this offering.

The automaker’s press release went on to note that a registration statement relating to these securities has been filed with the SEC. However, this registration statement is not yet effective.

“These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Copies of the registration statement can be accessed through the SEC's website,” the automaker noted.

It also added that its press release “shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.”

This news, of course, comes only a few years after fellow Big 3 automaker General Motors filed an IPO in November 2010, which Auto Remarketing covered extensively here.

Editor's Note: Stay tuned to Auto Remarketing as more details emerge on Chrysler's move.

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