General Motors filed for what could be the 2nd largest American Initial Public Offering ever resulting in a reduce stake of the US Govt.
According to Bloomberg, GM may seek to raise as much as $16 billion in the IPO, a person familiar with the plans said last week, making it the second-largest in U.S. history behind Visa Inc.’s $19.7 billion deal in March 2008. Outgoing Chief Executive Officer Ed Whitacre has pushed to end government ownership of the Detroit-based company, which received a $50 billion taxpayer bailout following its bankruptcy in June 2009.
Source: Bloomberg
