Initial Public Offering, Gm Ipo | featured news

The GM IPO could wind up as the largest in history. Earlier this week, GM raised the high end of its initial price range from $29 to $33 and increased the number of shares it was offering from 365 million to 478 million common shares because investor demand was so high. Counting preferred stock issued by the company, the deal's value could top $23 billion.

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 will shrink the government’s ownership stake to less than 50 percent in a $10.6 billion initial public offering, people briefed on the matter said.

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.