General Motors Co. will have four lead underwriters on its IPO, according to a source familiar with the situation.
They will be Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley, the source said. JPMorgan and Morgan Stanley helped the automaker prepare the paperwork for the IPO.
Separately, GM is considering offering 20 to 30 percent of the IPO stock flotation to retail investors. IPOs typically sell 20 percent of their stock to retail investors.
GM pushed its IPO to early next week as it updates its prospectus with the recent CEO change and a management risk factor, a source familiar with the situation said on Friday.
The filing with the Securities and Exchange Commission was originally scheduled for Friday. But Chief Executive Ed Whitacre said Thursday that he would step down and Dan Akerson would take over effective September.
