GM Now Plans to File for IPO in August, Not July

Automaker General Motors, or GM, plans to file for an IPO this year. It looks like General Motors' initial public offering has been delayed. The automaker had last year aimed for an IPO by July, according to a regulatory filing. Now, the company plans to file for an IPO of nearly $20 billion in mid-August, according to a Friday story from Reuters, which cites anonymous sources.

GM is also negotiating for a $5 billion revolving credit line -- which it hopes to pin down in the next two weeks -- from Bank of America (BAC), Citigroup (C), JP Morgan Chase (JPM), Morgan Stanley (MS) and others, those sources say.
Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.