“$20 to $25”. According to General Motors Chairman Ed Whitacre, that’s what we should expect to pay per share when GM finally launches its initial public offering. “Not-so-fast,” say other voices. In the company’s latest Securities and Exchange Commission filing, it has claimed that the price has “not yet been determined”.
According to a Securities and Exchange Commission filing that was done by The General on October 15th, the company is still up-in-arms about when exactly we will see the IPO, let alone how much the shares will cost. We also cannot be sure exactly when the U.S. Treasury plans on selling all of its stake in the company.
“The Company cannot predict whether the Offering, if completed, will be successful or whether it will work. In addition, the Company cannot predict whether the Offering will occur in November,” claims the filing.
On a second note, we find it kind of odd that the words “offering” and “company” are capitalized.
Source: The Detroit News