GM IPO filing expected today?
GM is expected to file its IPO with the U.S. Securities and Exchange Commission with an initial $100 million prospectus.
It's been an eventful few weeks for the automaker. GM's CEO Ed Whitacre announced last Thursday he will step down and be succeeded by Dan Akerson effective in September. That surprise announcement delayed the IPO filing by a few days, but now it's full steam ahead.
GM's IPO is expected to raise $15 billion to $20 billion in one of the largest IPOs ever and be an important step toward getting rid of its government backing. The U.S. owns a 61 percent stake in the company after a $50 billion bailout last year.