General Motors to register 3.5 billion shares of stock for a public offering
The new General Motors Co. plans to register 3.5 billion shares of stock to ready itself for a public offering sometime next year, using the proceeds to repay at least part of what it owes the US government and other stakeholders.
Just a day before its historic return to the New York Stock Exchange, General Motors confirmed today that it would expand its initial public offering of common shares by 31 percent.