GM expected to file for initial public offer

Posted August 16, 2010 2:47 pm.

This article is more than 5 years old.

General Motors is expected to file for an initial public offer and it’s expected to be worth up to $16-billion; which would be the second largest offering in U.S. history.

The U.S. treasury for the GM business offered to impose a small fee on all banks that are expected to be involved in the deal.

The U.S. government owns 60 per cent of GM, while the Canadian and Ontario governments own 12 per cent each.

This offer would be a major step for GM as it attempts to escape government control.

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