GM Expected To File Initial Public Stock Tuesday

By Scott Sarvay

November 2, 2010 Updated Nov 2, 2010 at 11:45 AM EST

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.

What are your thoughts CLICK HERE to leave us a "QUESTION OF THE DAY” comment.

Want to be in the know for the next weather event, the next school closing or the next big breaking news story?

TextCaster alerts from 21Alive.com are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!

Powered by Summit City Chevrolet

© Copyright 2015, A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.