General Motors has finalized terms for what is expected to be one of the largest-ever IPOs, to begin to repay its $50 billion government-funded bailout and reduce the US Treasury to a minority shareholder.
Potential investors are expected from all over the world, including some sovereign wealth funds.
GM plans to sell 365 million common shares, or 24 percent of its common stock, at between $26 to $29 each, which would raise around $10 billion if sold at the midpoint, according to updated IPO papers filed with the SEC.