General Motors May Raise Its IPO Price
The increase in the IPO price to $31 to $33 a share from the initial range of $26 to $29 a share is being prompted by strong demand for the stock, the newspaper said.
The federal government holds a 61% stake in the Detroit automaker, which is keen on shedding the "Government Motors" moniker that critics of the 2008 bailout often use to refer to GM. The IPO would reduce the government's stake in GM to about 40%.