GM Stock Offering
Lots of indications pointing to today being the day that General Motors begins the process that will lead to its selling off the government stake in the company.
That lengthy form, called an S-1, is now reportedly being reviewed by GM board members to make sure it meets their approval, before it’s filed, most likely later today. The document runs hundreds of pages, and lists all of the reasons somebody may want to buy GM stock, along with all of the risks.
The stock sale could raise up to $20 billion, much of which would go to the U.S. Treasury.
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