Gm confirms expanding initial public offering by 31 percent
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.
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.