GM share rate increasing right after today's IPO

Less than a year and a half after filing for bankruptcy, General Motors has hit a big milestone. Today was their second ipo. The GM stock was offered at $33 a share, and the GM stock rate has been steadily rising. The Treasury has sold off half of the share it owns in General Motors, raising about $23 billion. Article resource – GM Stock price shoots up after IPO today by Personal Money Store.

General Motors ipo starting up

The business went through a lot to get to the GM IPO that begun this morning. Federal working class individuals paid $50 billion for General Motors to obtain out of its bankruptcy. Now, the company gets to go public again after one year and five months. On the New York Stock Exchange, GM (share symbol General Motors), was offered at $33. The NYSE trading began with a 2011 SS horn blast. The CEO of General Motors was able to ring this bell.

How GM share is doing with price

After opening, General Motors share went up in rate. about $35 a share was what it hit. This might just be the largest ipo within the New York Share Exchange dependent upon what happens today. Today, General Motors was hoping to obtain $20.1 billion in share. That was the original plan. There is a chance that there could be more within the ipo than that though. There could possibly be a $3 billion expansion. The record set by the Agricultural Financial institution of China in July would be broken if the General Motors Initial Public Offering goes over $23.1 billion.

GM Initial Public Offering and tax payers

The United States Treasury has chosen to sell half of its stake within the business. The Treasury got about $23 billion from GM stock at $33 a share. Working class individuals aren't getting exactly what was paid for it yet. It can be just the start of this though. To make up for this investment, $53 a share could have to be exactly what the government sells the rest of the stock for. Regular people will just have 5% of the shares offered to them. Most initial public offerings are this way though so it’s normal.

Articles cited

GM

gm.com/investors/

Washington Post

washingtonpost.com/wp-dyn/content/article/2010/11/17/AR2010111707295.html?hpid=topnews&sid=ST2010111706620