GM gets ready to go public
This final note today, offered in our collective capacity as the owners of General Motors. GM priced its initial public offering this afternoon: 478 million shares at $33 apiece, right about at the top range of earlier guesses.
In all, counting some other preferred shares, that’s about $22 billion to the company. When shares start trading tomorrow, the IPO will take the U.S. government’s stake in GM down to about 26 percent, from the 61 percent it’s at right now.
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