GM Expected To File Initial Public Stock Tuesday

By Scott Sarvay

November 2, 2010 Updated Nov 2, 2010 at 12:45 PM EDT

DETROIT (Indiana's NewsCenter) - General Motors is expected to file terms of an initial public stock offering today.

Reports say the automaker plans to sell more than $10 billion in common stock and $3 billion in preferred stock during the IPO.

The price will likely be set on the 17th, and then trading would begin on the New York Stock Exchange the next day.

The IPO should make the U.S. Government a minority shareholder for the first time since GM emerged from bankruptcy last year.

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