GM IPO price set at 33 dollars per share

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GM IPO price set at 33 dollars per share

Source: Xinhua
[09:07 November 18 2010]
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General Motors Co. (GM) Wednesday announced that the price of common share in its initial public offering (IPO) is set at $33, bringing the value of total common shares to 15.77 billion dollars.

The company also announced its plan to issue 4.35 billion dollars of preferred stocks, making the overall IPO to 20.1 billion dollars, the largest in Wall Street history.

If the overallotment options are exercised, the total IPO will hit 23.1 billion dollars.