General Motors filed a registration statement with United States Securities and Exchange Commission for its proposed initial public offering of common stock, an intent that the company first announced earlier this summer.
As readers will recall, the Obama Administration effectively took ownership of the auto maker last year in a bailout tied to the recession. In effect, taxpayers already “own” GM, but today’s announcement signaled that actual shares in the overhauled company could begin as soon as this fall. However, a company statement indicated that the date the IPOs will be offered “will be determined by market conditions and other factors.”
