GM is poised to pull trigger for $20bn flotation

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorBrake For ItThe Most Worthless Cars Ever MadeBrake For ItTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal Past Show Comments ▼ Tags: NULL whatsapp GENERAL MOTORS could file a registration for its initial public offering (IPO) of up to $20bn (£12.8bn) as soon as tomorrow, after it reports quarterly results today, three people with knowledge of the process said.GM’s IPO registration was expected later this month, but the company and advisers have sent conflicting signals about how quickly that first step toward reducing the government’s majority stake could happen.The IPO filing was expected in mid-August, but GM chief executive Ed Whitacre said last week that the company did not plan to file a registration in the near term, prompting speculation that the timing had slipped.The timing of the IPO filing had not yet been set and hinges on the progress GM makes on securing a credit facility in ongoing talks with banks, according to a source.GM, now 61 per cent-owned by the US government, is counting on the momentum from its second consecutive quarter of profits to help it clinch a $5bn bank credit facility as it prepares for an offering by year end.If the American automaker does file for an IPO valued at $20bn, it would be the biggest US IPO since credit card firm Visa’s $19.7bn offering in March 2008. GM is poised to pull trigger for $20bn flotation center_img KCS-content Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot Wednesday 11 August 2010 8:41 pm whatsapplast_img read more