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Home ยป GM Files Plan for Fall IPO

GM Files Plan for Fall IPO

August 15, 2010 By Brad Mackey

general-motors

DETROIT — General Motors Co., moving to unwind itself from government control, today filed plans to go public and begin selling common shares as early as this fall.

The filing — anticipated for weeks — came just 13 months after GM was restructured in bankruptcy with $50 billion in direct aid from the U.S. government.

GM said the amount of securities offered will be determined by market conditions and other factors at the time of the offering. The number of shares to be sold and the price range for the offering have not been determined, the automaker added. GM hopes to raise $12 billion to $16 billion with the stock sale, Bloomberg News reported, making it among the biggest initial public offerings ever.

Filed Under: News and Events Tagged With: General Motors

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