Tuesday, November 16, 2010

GM ups the size of IPO by 30%

Not that you might have predicted it from the last post, but GM has upped the size of its post-bailout offering by 30%, indicating that the talky-talk is good.


The size of the green shoe is enormous! Update: Not "enormous", just sizeable (I completely misread the note that there was another 550 million, when it is just 72).:

G.M. will now offer 478 million shares in the offering, which is expected to price between $32 to $33 a share, these people said. The company's underwriters also have the option - likely to be used - to expand the size of the offering to about 550 million shares. G.M. also expects to sell up to $4.4 billion worth of preferred shares.


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