Report: GM to offer stock to employees, retirees and dealers

Filed under: GM, Earnings/Financials

General Motors is getting ready for its Initial Public Offering, which is expected to occur later this year. Ahead of that, GM has announced that it will offer nearly 600,000 employees (current and retired) and dealers the opportunity to purchase stock at the opening IPO price.

According to The Detroit News, the minimum required investment will be $1,000, and to qualify for this program, interested parties must respond by the end of this month. Once the IPO has been announced, potential buyers will then have four business days to purchase stock at the opening price. The program is being administered by Morgan Stanley. GM has not specified maximum and minimum share limits for this program.

[Source: The Detroit News]

Report: GM to offer stock to employees, retirees and dealers originally appeared on Autoblog on Tue, 12 Oct 2010 15:58:00 EST. Please see our terms for use of feeds.

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