New rule eases minority form IPOs. (initial public offerings of automobile suppliers) From: Crain's Detroit Business | Date: May 11, 1998| Author: McCracken, Jeffrey | COPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Local minority automotive suppliers such as The Bing Group, The Bartech Group Inc. and Saturn Electronics & Engineering Inc. say they are more likely to consider a public offering in the wake of a new U.S. automakers-U.S. government rule redefining minority ownership.

The rule allows a publicly held company to retain minority-business status with the automakers when as little as 10 percent of its stock is held by a minority individual, compared with the 51 percent required p...

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