AFSCME 3357-HOF'S BLOG

General Motors IPO Going Forward
"American" Ownership Likely to be Reduced

The GM initial public offering is moving right along. The company would like to sell $13 billion worth of stock at about $26-$30 per share. There appears to be a pretty decent market for the stock. Several sovereign wealth funds, including that of the Kuwait government, are among the most talked about purchasers of stock. Another is the Chinese automaker SAIC which might drop several billion dollars on GM stock.