From our colleagues at DealBook:
General Motors confirmed on Wednesday several details about its forthcoming initial public offering, including the Treasury Department’s cutting its holdings to about 43 percent.
The automaker also said that it earned about $2 billion in net income attributable to its common shareholders for the third quarter.
G.M. said in a regulatory filing that it planned to sell 365 million common shares at $26 to $29 each. At the midpoint of the proposed range, that would value the offering at about $10 billion.
Read more here.
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