General Motors Ipo | featured news

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

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.

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.

The U.S. Treasury and General Motors Co may select a lead underwriter for an initial public offering for the automaker as early as next week, Bloomberg News reported on Saturday.