GM clarifies chairman’s comments about IPO

By Associated Press
Posted Oct. 15, 2010 at 5:48 p.m.

General Motors is clarifying comments made earlier this week by Chairman Ed Whitacre about the automaker’s expected initial public offering.

Whitacre told reporters in San Antonio on Wednesday that GM’s IPO would take place sometime in November and shares would be priced from $20 to $25 per share.

GM says in a regulatory filing Friday that a price range for the offering has not yet been determined and will be disclosed only after it has been determined. GM says it can’t predict whether the offering will be priced in November.

The automaker says the statements attributed to Whitacre “were not intended.”

GM has not officially announced a date or price for the IPO, but it has been expected in November.

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  1. Rance St. Ambrose, IV Oct. 16, 2010 at 11:29 a.m.

    20 to 25 cents per share would be closer to reality. How much would a share in the Postal Service(?) be worth, should it ever go public? Not much.

  2. Rance St. Ambrose, IV Oct. 16, 2010 at 11:46 a.m.

    300,000 of the Peoples’ Chevrolets are coming back to be remade-right. Remember the Peoples’ Yugo!

    Of how many of the 300,000 do you long to own a little piece?

    Invest in government stained GM? Better get some Ford stock (At $3.40 in March of 2009 – closed at – $13.80 Friday 10/15/2010.