General Motors already has put the bags on the street. After begging the state to help my dad to let him sleep in his home while recovering his composure, GM has returned this morning to Wall Street and the Toronto Stock Exchange in style. It's been years and agonies, harsh criticism and transformation since it declared bankruptcy, but the revival seems to have a good start: its price, which started with 33 cents a share, rose to 35.99 near the point made the IPO, and now walks in a very healthy $ 35.28.
GM expects to raise a minimum of 20,100 million dollars, but if you met your best forecast, the amount could exceed 23,000 million dollars and set a new record.
The operation also involves the U.S. Treasury will become a minority shareholder, growing from 61% of the group to only 33%. Estimated benefits for the operation, the remaining shares would be sold at an average of $ 50. Some of the titles "downloaded" could end up with China's SAIC, which Beijing has requested permission to purchase 1% of GM for about $ 500 million.Source URL: https://maryelizabeth-winstead.blogspot.com/2010/11/gm-becomes-public-company.html
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