Ford Motor Co. has completed the sale of nearly 20% of its interest in Associates First Capital Corp., raising nearly $1.9 billion in one of the largest initial public offerings of stock ever in the United States.

The offering came less than two months after Associates, a diversified specialty lender, filed a registration statement for the shares. While a number of consumer and specialty finance stocks took a beating, Associates appears to have weathered the market turbulence during that period.

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