GM May File for Public Stock Offering This Friday
By: The underwriters leading GM’s public stock offering are hoping to file a preliminary prospective this Friday, though the actual pricing of the deal won’t take place for what may be several months, CNBC has learned.
Still, the prospectus may detail GM’s hopes for the size of the deal and will provide investors with new details on the financial performance of the company, which emerged from bankruptcy little more than a year ago.
When GM does come to market with the offering it is likely to set a record.
GM will report second-quarter resultson Thursday. The automaker emerged from bankruptcy protection last summer and has paid back $6.7 billion in government loans.
However, the federal government owns 61 percent of the company and once the IPO is offered the government can sell its stake and reclaim $43.3 billion it injected last year.
Related Links:
- Earnings Preview: GM to Report 2Q Results
- Video: GM IPO Ready-to-Roll?
- GM Results to Show Gain Over First Quarter
- Beware GM Equity
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Associated Press contributed to this post.
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