Automaker could raise up to $20 billion, nearly setting a record
DETROIT/NEW YORK — General Motors Co filed for an initial public offering of stock on Wednesday, clearing a key hurdle toward repaying taxpayers for a controversial bailout just over a year after its bankruptcy.
The automaker said it planned to list the shares on the New York Stock Exchange and the Toronto Stock Exchange after its initial public offering.
Morgan Stanley, JPMorgan, Bank of America Merrill Lynch and Citigroup Inc have been selected as the lead underwriters for the IPO by the top U.S. automaker.
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6 comments:
Who in the hell is going to be stupid enough to buy stock in GM after what the regime and the union did to the stockholders during the takeover? As long as the unions and the government are a part of it, it is and always will be a loosing proposition for anyone else.
They are building plants overseas with stimulous money.
"Who in the hell is going to be stupid enough to buy stock in GM after what the regime and the union did to the stockholders during the takeover?"
The Chinese is who and they will likely get a bargain price because nobody else would want the stock. They just bought Volvo from Ford too.
I wonder what the UAW will do when China fixes the labor cost problem?
I've got my dollars stashed away for this IPO. GM is going to come charging back with heavy equipment/truck sales once the global economy picks back up.
2:09
GM isn't in the heavy equipment business.
P.S. As a former salaried GM employee that was terminated after 26 years along with 3000 of my co-workers, I can tell you that nothing has changed at GM.
Politics are what runs the company!
From the comments of 2:09, I guess there are people that stupid.
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