General Motors, Auto Industry | featured news

Investor demand for General Motors stock has been so strong that the company will expand its initial public offering by 31 percent, to 478 million common shares, a person briefed on the sale said Tuesday.

General Motors says it made $2 billion in the third quarter, a strong showing that helps the company's pitch to investors who may buy stock in an initial public offering.

General Motors on Wednesday finalized terms for a stock offering of about $13 billion to repay a controversial taxpayer-funded bailout and reduce the Treasury to a minority shareholder.

General Motors and Chrysler are beginning to make some headway after getting a financial and operational overhaul compliments of the U.S. bankruptcy court.

The upcoming initial public offering of General Motors Co will be open to the widest possible range of investors, including both overseas funds and U.S. retail buyers, the U.S. Treasury said on Friday.

How long it takes for the government to divest its holdings in General Motors will, in part, be determined by the company’s success, G.M.’s chief executive said.

The annual package includes $1.7 million in salary and a mix of stock, some part of a long-term incentive plan.

General Motors filed to become a public company again and let the federal government begin selling down its share.

General Motors Co has begun to work on the U.S. regulatory filing needed for an initial public offering but does not expect to have that ready in the next two weeks, Chief Executive Ed Whitacre said on Thursday.

General Motors said its U.S. sales in May jumped 32% for the four brands the company kept after its restructuring thanks to continued strong demand for crossover vehicles and cars.