Following unprecedented interest, GM has made several revisions to their previously announced IPO plans.
Following unprecedented interest, GM has made several revisions to their IPO plans.
First and foremost, the company has increased the estimated price of common stock from $26-29 to $32-33 per share. Furthermore, GM will release 80 million shares of Series B stock instead of the previously announced 50 million shares. Thanks to these changes, the IPO could be worth over $16 billion dollars - a $3B increase from previous estimates.
Sales will kick off on November 18th and GM CEO Dan Akerson will be at the New York Stock Exchange (NYSE) to ring the opening bell.