Mediafax (Mediafax)
World markets  |  September 02, 2010 13:36:07

GM campaign to entice shareholders should start after the elections to Congress


Mediafax

NEW YORK (MEDIAFAX) - Campaign General Motors (GE) to attract shareholders to the initial public offering (IPO) should start the third November, the day after the election to the U.S. Congress. Informed about it on Thursday, Reuters, citing unnamed sources.

According to sources Reuters the campaign car should last two weeks, the shares would be issued on the 18th of November. The plan, however, car is not yet final, and may additionally change the highlighted unnamed sources.

As expected, the market shares of automotive emissions could reach $ 20 billion (385 billion) and should thus be the greatest emissions since the shares of Visa in 2008.Unnamed sources Reuters reported that General Motors might give ordinary shares amounting to 12 to 16 billion dollars (231 to 308 billion) and preferred stock in the amount of from 3 to 4,000,000,000 U.S. dollars (57.7 to 77,000,000,000 dollars).

Currently the largest shareholder, the U.S. Treasury carmaker, which owns 61 percent shares.

Vojtech Kristen, kristen@mediafax.cz

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