GM Said to Increase Price by 14% in Second-Biggest U.S. IPO
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General Motors Co. may sell shares in its initial public offering for as much as 14 percent more than originally planned, making it the second-largest U.S. IPO on record, according to four people familiar with the deal.
GM, 61 percent owned by the U.S. Treasury, will probably set a price of $32 to $33, said one of the people, who declined to be identified because the discussions are private. The automaker, which had filed with the Securities and Exchange Commission on Nov. 3 to offer 365 million shares for $26 to $29 each, would raise $12 billion selling shares at the new high end of the price range on Nov. 17.