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BREAKING NEWS

GM share offering details emerge

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GM share offering details emerge

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General Motors is planning to start promoting its initial public offering of shares on 3 November, immediately after the US midterm congressional elections.

The shares would then go on sale on 18 November, with the price being set one day before.

GM wants to return to the stock market so the US government can begin to sell off some of the 61 percent stake it received in the carmaker after bailing it out last year.

GM sources that gave the information to news organisations cautioned that the plans were still being finalised and could change based on how US stock markets perform.