General Motors is out with its S-1 filing.� In short, its IPO filing is now out and official.� Terms are not disclosed and the amount listed for filing purposes was $100 million in common stock and $100 million in Series B mandatory convertible junior preferred stock.� Keep in mind that those figures are for filing purposes and the dollar amounts are likely to be exponentially higher into the billions of dollars.
The company will trade under the stock ticker “GM” again on the NYSE and it will also trade on the Toronto Stock Exchange.
The syndicate is huge here: Morgan Stanley, J.P. Morgan, BofA Merrill Lynch, Citi, Barclays Capital, Credit Suisse, Deutsche Bank Securities, Goldman Sachs, RBC Capital Markets, and UBS Investment Bank.
Again, we have a question for our readers:� Do you even want to buy GM shares at the IPO?� We have a 20 second anonymous survey we are taking.
The common stock via shares outstanding will be some 500 million shares.� Listed among the selling and principal shareholders are listed as The US Treasury with 304.131M shares (60.83%), Canada GEN Investment Corporation with 58.36M shares (11.67%), UAW Retiree Medical Benefits Trust with 102.651M shares (19.93), and Motors Liquidation Company with 140.909M shares (23.85%).
Full filing details are here.
JON C. OGG
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