GM shares to be priced between $20 and $25 in the initial public offering (IPO)

Article by Christian A., on October 13, 2010

According to Chairman Ed Whitacre, it appears that GM shares are likely to be priced between $20 and $25 in the initial public offering (IPO) in November. Although sources knowledge of the developing deal confirmed the fact that the shares will be priced near the $20 to $25 range, today it was the first time when GM has commented on the issue.

"It's a little too early to say, but it is going to be somewhere in the $20 range... $20, $25, something like that would be my guess," Whitacre said. "It's a little too early to tell, but somewhere in there," he added.

A pitch to retail investors is expected to be a major focus in the GM IPO, although U.S. securities regulations don’t allow this. Earlier today, we revealed you the fact that GM extended a deadline for 600,000 workers, retirees and dealers in the United States and Canada, in order to register to buy shares in the IPO.

Whitacre couldn’t say how large GM IPO would be, but he predicted that it will be a success in reducing U.S. government's 61 percent stake in the top U.S. automaker.

For those who don’t know, the Obama administration gave GM $50 billion in U.S. taxpayer funding. [via autonews - sub. required]

Topics: gm, ipo, shares, united states

If you liked the article, share on:

Comments

Recommended

It’s pretty neat if you possess something of an extraordinary breed like, say, the Pagani Huayra. There are after all just a total of 100 units ever been built by...
by - April 28, 2017
If you’ve ever visited an arcade, chances are you have already seen a Logitech G920 wheel. If that doesn’t ring a bell, it’s the steering wheel that you use when...
by - April 28, 2017
Toyota Motor Corporation disclosed that it will be bringing two of its Mirai fuel cell vehicles to China by October of this year. Tests will then be conducted on these...
by - April 28, 2017
Jaguar fans, as well as auto enthusiasts in general, has a reason to celebrate this week as the brand gave everyone a peek of the new 2018 XF Sportbrake. This...
by - April 28, 2017
BMW has revealed that its i brand has partnered with TED in order to launch a worldwide search of unique ideas under the title “NextVisionaries.” This brand has long been...
by - April 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries