GM chairman predicts $20 to $25 share price in IPO

[Omaha Steve]

Source: (Excite) AP

By TOM KRISHER

DETROIT (AP) - When General Motors Co. sells stock to the public, it will be priced from $20 to $25 per share, Chairman Ed Whitacre predicted Wednesday.

Whitacre told reporters at an event in San Antonio, Texas, that the automaker's initial public offering would take place sometime in November.

"It's going to be somewhere in the $20 range, $20, $25, something like that," Whitacre said, according to WOAI-TV and the San Antonio Express-News.

GM had not previously announced a date or price for the IPO, although it had been tentatively set for next month. The automaker is waiting for U.S. regulators to sign off on its proposed plan to sell shares.


Read more: http://apnews.excite.com/article/20101013/D9IR3CKO0.html

[DCKit]

1. Not if the news about GMAC/Ally keeps coming. n/t

[slackmaster]

2. I, for one, won't be waiting in line to buy it

:nuke:

[Crowman1979]

3. That is WAAAAAYYYY overpriced!

I'll wait unti it's $2 per share.

[Lucky Luciano]

4. Tell you what...I'll split the shares 15:1 to make them under $2 just for you! nt

[aquart]

5. Sure. What's the aftermarket gonna be?

[Exilednight]

6. Wait a week and then buy. The IPO is highly overpriced. n/t

[doc03]

7. I got a good look at the vehicle that is supposed to save GM

and was not impressed in the least. To me it just looks like a spruced up Cobalt. I don't think the styling will attract the young buyers they need, I am 62 and think it is stodgy.