Initial Public Offering, Carmaker | 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 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 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.