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General Motors returns to US stock market

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General Motors returns to US stock market


Once-bankrupt automaker General Motors will return to the US stock market on Thursday. The company will offer shares at US$ 33 each, 18 months after Washington sanctioned a US$ 50 billion bailout.
The sale could leave GM the biggest share offering in the world. Seven times more buyers than shares on offer allowed GM to up its price from an expected 26 dollars.
The initial public offering values the company at least 20.1 billion dollars. The US government’s stake in the company will drop from 61 percent to 33 percent after the IPO.

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