GM Ups the Stakes in IPO Offering

Steven Rattner' wishes came true today, as American manufacturer GM announced it has decided to ask more and offer more in the upcoming initial public offering (IPO). Simply put, the price of in between $26.00 to $29.00 per share was deemed too little, and the 60 million shares of its Series B mandatory convertible junior preferred stock too few to satisfy the carmaker's needs and the buyers' appetite.

GM raised the price of one share to in between $32.00 to $33.00, closer to the expectation...

Source: http://www.autoevolution.com/news/gm-ups-the-stakes-in-ipo-offering-26512.html

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