Despite skepticism of a General Motors Initial Public Offering happening this month, it seems that the offering will indeed occur. Additionally, paperwork will be filed today that will take the asking price to $26 to $29 per share – above Chairman Ed Whitacre’s prediction.
Though these latest details may speak to just what kind of return the Feds (and the public at large) will get on their investment, the IPO price will not be set in stone until its time for showtime. What ultimately determines the price, of course, are the investment bankers that look over The General’s overall financial health and compare it to that of similar companies.
The expected launch of the long-awaited IPO is November 18th, exactly 15 days from now. Let’s see if it materializes.
Source: The Detroit Free Press