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Wednesday, November 17, 2010

GM IPO Today May Be Largest in U.S. History

General Motors much anticipated initial public offering will price today.

The company revised the IPO by 31% and could raise as much as $22.7 billion dollars, making ith the largest stock offering in U.S. history. The automaker raised it's common stock price range just yesterday, and upped the preferred shares to $4 billion dollars. The company received share orders for it's common stock worth $70 billion dollars.

The auto company sought a government bail out just 16 months ago. GM received $50 billion in taxpayer dollars, and hopes to repay the feds as soon as possible.


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