On The Up & Up: GM Raises IPO Price Range, Increases Size
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General Motors has just announced an increase to the estimated price range of its initial public stock offering to $32.00-$33.00 per share from the $26.00-$29.00 per share predicted earlier. The common stock offering will consist of 365 million shares of common stock.
The General also announced an increase of the proposed size of Series B mandatory convertible junior preferred stock offering from $3 billion to $4 billion. The series B offering will consist of 80 million shares.
And that’s the end of the dry and boring, yet necessary, financial news for the day. Nothing else to see here folks, move along.
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