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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials, Market

GM prices IPO at up to $US29 per share

Posted on 02 November 2010

From Businessspectator.com.au: General Motors will look to sell just over $US10 billion ($A10.12 billion) worth of common stock and $US3 billion of preferred stock in an initial public offering that would shift the US government to a minority shareholder in the top US automaker, people familiar with the matter said.

GM, which emerged from bankruptcy in July 2009 with the US Treasury as its majority shareholder, is likely to sell a combined $US1.5 billion to $US2 billion stake to four or five sovereign wealth funds, one source said…………………………………….Full Article: Source


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