General Motors Is Planning to Hold an I.P.O. Next July
The General Motors Company, the new automaker majority-owned by the United States Treasury, said Friday that it intended to make an initial public offering of stock by July 10, 2010, the one-year anniversary of its exit from bankruptcy. The target date range for an offering was disclosed Friday in a federal regulatory filing that the company said summarized its activities in the four weeks since it left court protection. G.M. said it was authorized to issue 2.5 billion shares of common stock. G.M. will begin releasing financial data after the third quarter, a spokeswoman, Renee Rashid-Merem, said. The company’s filing did not include financial results. “Today’s disclosures are consistent with our commitment to remain transparent and to keep the public informed of our progress,” the chief executive, Fritz Henderson, above, said in a statement.
Business Briefing - Company News - General Motors Is Planning to Hold an I.P.O. Next July - NYTimes.com
Business Briefing - Company News - General Motors Is Planning to Hold an I.P.O. Next July - NYTimes.com
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