Ipo, Automaker | featured news

The head of Italian automaker Fiat is considering a plan to hold a public stock offering after the company buys 100 percent of Chrysler, according to a person briefed on the matter.

Chinese motor-vehicle dealer China Yongda Automobiles Services Holdings plans to raise up to $433 million in an initial public offering ahead of its listing in Hong Kong on May 30, people familiar with the situation said.

BYD, the Chinese battery and car maker backed by Warren Buffett, said it will kick off investor meetings for its domestic IPO on Thursday.

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.

The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.

General Motors Co is unlikely to file for its initial public offering on Tuesday, three people familiar with the situation said.

General Motors Co has completed the paperwork for an initial public offering, and timing of its filing with the U.S. securities regulators rests with the board of the top U.S. automaker, sources familiar with the process said on Monday.

General Motors Co has secured a $5 billion credit facility, two people briefed on the bank deal said on Wednesday, marking the return of the top U.S. automaker to the capital markets a year after it emerged from a landmark bankruptcy.

Shares in electric car maker Tesla opened at $19, above the IPO price of $17, which in turn topped the proposed price range by $1.

Electric-car maker Telsa Motors, which makes a luxury all-electric car that sells for $109,000, hopes to raise $178 million from its IPO, which could debut on Nasdaq on June 29.