GM Hits The Stock Exchange
General Motors (NYSE:GM) made its second entry into the New York Stock Exchange with an Initial Public Offering.
General Motors managed to gain over $20 Billion through the IPO. On the end of day one shares were around $34 per share. It created history by becoming the largest initial stock offering in New York Stock Exchange.
The government controlled car manufacturer GM (NYSE:GM) has had more than $50 Billion of tax payers’ money to revive the dying automobile giant. The government stake through this measure is reduced to 33% from 61%. More than 358 million shares were sold and 54 million more are going to be sold to bankers.
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