Delphi Automotive, the former parts unit of General Motors, announced terms for its IPO on Monday. The Kent, United Kingdom-based company plans to raise $554 million by offering 24.1 million shares at a price range of $22 to $24. At the mid-point of the proposed range, Delphi Automotive will command a market value of $7.6 billion. Delphi Automotive, which was founded in 1997 and booked $15.8 billion in sales for the 12 months ended September 30, 2011, plans to list on the NYSE under the symbol DLPH. Goldman Sachs and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of November 14.
