GM gets ready for public stock offering
General Motors Co. plans to file as early as next week a detailed statement outlining its proposed initial public stock offering, according to officials familiar with the planning.
The registration statement also will announce that Morgan Stanley and JPMorgan Chase & Co. will be lead underwriters for the sale of part of the U.S. government's 60.8 percent stake in GM. The sale could take place before the November election.
The two banks, and smaller underwriters, are expected to share a fee for handling the sale, which could range from $75 million to $150 million based on the stock sold -- lower than most IPOs, according to one U.S. Treasury Department official.
Source: GM gets ready for public stock offering
The registration statement also will announce that Morgan Stanley and JPMorgan Chase & Co. will be lead underwriters for the sale of part of the U.S. government's 60.8 percent stake in GM. The sale could take place before the November election.
The two banks, and smaller underwriters, are expected to share a fee for handling the sale, which could range from $75 million to $150 million based on the stock sold -- lower than most IPOs, according to one U.S. Treasury Department official.
Source: GM gets ready for public stock offering
