Wednesday, August 11, 2010

GM to File Initial Public Offering (again) this Friday?

The Detroit News (among others) is reporting that General Motors has secured a $5 billion credit line, and it is planning filing for a public stock offering as early as this Friday. Although it's likely that the shares that GM registers to sell will be far fewer than what it would take to remove the United States government as controlling shareholder, a public offering would be the first step toward removing the stigma of the "Government Motors" moniker.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.