- The Big Picture - http://www.ritholtz.com/blog -
GM IPO Coming in October
Posted By Barry Ritholtz On July 23, 2010 @ 8:54 am In Bailouts,Corporate Management | Comments Disabled
The purchase of Americredit  is the last step GM needs before it can take itself public again. With that piece of the puzzle  in place, “Government Motors ” can now accelerate its bid to return to the NYSE.
Look for GM to file its SEC registration statement as soon as next month. Their IPO should raise $10-20 billion dollars.
If the filing takes place later this summer — before Labor Day — then the initial public offering itself will occur in the Fall. I would expect that GM will be public prior to the 2010 November Congressional elections.
No word on who the underwriters will be — but post SEC settlement, it would be surprising if Goldman Sachs was not prominently on the book, along with fellow bail-outtees Morgan, BA/MER and Citi. If had to guess, it would be that the lead banker will be JPMorgan, led by wonder-boy/WH fave Jamie Dimon.
UPDATE: July 23, 2010 9:25am
When Does GM Get Kicked Out of the DJIA?  (November 7th, 2007)
When Does GM Get Kicked Out of the Dow, part II  (June 26th, 2008)
GM: Out of the Dow  (May 7th, 2009)
Top 10 Things the Letters “GM” Stands For  (April 2nd, 2009)
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2010/07/gm-ipo-coming-in-october/
URLs in this post:
 G.M. Spends $3.5 Billion for Lender to Subprime: http://www.nytimes.com/2010/07/23/business/23autos.html
 Americredit: http://www.americredit.com/
 piece of the puzzle: http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aMoHnxTKPZ1E
 Government Motors: http://www.ritholtz.com/blog/2009/04/top-10-things-the-letters-gm-stands-for/
 GM IPO? Don’t Hold Your Breath: http://www.time.com/time/business/article/0,8599,2003321,00.html
 Reuters: http://uk.reuters.com/article/idUKTRE66M0OS20100723?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FUKBusinessNews+%28News+%2F+UK+%2F+Business+News%29
 When Does GM Get Kicked Out of the DJIA?: http://www.ritholtz.com/blog/2007/11/when-does-gm-get-kicked-out-of-the-djia/
 When Does GM Get Kicked Out of the Dow, part II: http://www.ritholtz.com/blog/2008/06/when-does-gm-get-kicked-out-of-the-dow-part-ii/
 GM: Out of the Dow: http://www.ritholtz.com/blog/2009/05/gm-out-of-the-dow/
Copyright © 2008 The Big Picture. All rights reserved.