GM to seek up to $10.5B stock offering

[Bozita]

Source: Detroit News

Last Updated: November 01. 2010 7:27PM
GM to seek up to $10.5B stock offering
David Shepardson / Detroit News Washington Bureau


Washington — General Motors Co. is expected to file plans as early as Tuesday to seek up to a $10.5 billion initial public stock offering, two people briefed on the matter said today .

GM is planning to sell about 365 million shares for between $26 and $29, for a total of between $9.5 billion to $10.5 billion, the people said.
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The exact price will be set based on market demand during GM's two-week road show, which is slated to begin Wednesday.

Two teams of GM executives will pitch the stock offering to investors at meetings in the United States, Canada and Europe and elsewhere.

Read more: http://www.detnews.com/article/20101101/AUTO01/11010397/GM-to-seek-up-to-$10.5B-stock-offering#ixzz145Ka7VLy

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This article would never have appeared if McCain had defeated Obama.

[Psephos]

1. 20 cents back on the dollar

Just $40 billion to go after the IPO.

There are reasonable arguments on both sides of the automaker bailout, but the argument that it was a loan and not a subsidy is not one of them.

[Lance_Boyle]

2. That, and GM is still a huge gamble.

The Volt turns out to be just another hybrid, no other significant signs of innovation. I would not count on making bank off of that IPO in the near future.