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GM to file 'nominal' US$100 mln IPO amount
Source: Agencies |
August 17, 2010, Tuesday
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General Motors Co is expected to file initial public offering paperwork with US regulators today for a "nominal" US$100 million, according to a source familiar with the process.
The US$100 million is a "nominal amount" and does not represent the full amount that GM expects to raise. GM is ultimately expected to raise between US$15 billion and US$20 billion in its IPO.
The underwriting syndicate for GM's IPO will not be finalized until close to when the deal prices, but will include minority firms, the source said.
The source declined to be named because preparations for the IPO are not public.
The US$100 million is a "nominal amount" and does not represent the full amount that GM expects to raise. GM is ultimately expected to raise between US$15 billion and US$20 billion in its IPO.
The underwriting syndicate for GM's IPO will not be finalized until close to when the deal prices, but will include minority firms, the source said.
The source declined to be named because preparations for the IPO are not public.
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