GM Stock Hits The Market On November 18th

By Scott Sarvay

November 4, 2010 Updated Nov 4, 2010 at 12:33 PM EDT

DETROIT (Indiana's NewsCenter) - The new initial public offering for General Motors will happen in two weeks.

The automaker plans to sell 365 million shares of common stock and 60 million shares of preferred stock at $26 and $29 each during its $13 billion dollar IPO on the 18th.

This is the latest step in GM's recovery since it emerged from bankruptcy last year.

The move is expected to make the U.S. government a minority shareholder in the company, as it continues to pay back its bailout money.




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