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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.
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.