GM Times IPO with $2 Billion 3rd Quarter Profit
This week, General Motors has revealed more information regarding the upcoming IPO rumored to take place later this month. The announcement coincides with third quarter net income expectations of roughly $2 billion dollars, which is their largest quarterly amount since 1983. The GM IPO could mark one of the biggest in history and is expected to generate up to $13 billion dollars. The federal government hopes to reduce their stake in the company from 61% to around 35% and will release the shares gradually to maintain their value.
The estimated share price will initially be $26 and could possible reach upwards of $45 during market trading which would turn the taxpayer’s stake in the company profitable.
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Posted on November 4, 2010 at 11:31 am by salaryfor.com · Permalink
In: Business Stories · Tagged with: Billion Dollars, Federal Government, General Motors, Gm, Income Expectations, Net Income, Quarter Profit, Salary Information, Share Price, Stake, Upcoming Ipo
In: Business Stories · Tagged with: Billion Dollars, Federal Government, General Motors, Gm, Income Expectations, Net Income, Quarter Profit, Salary Information, Share Price, Stake, Upcoming Ipo
