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GM files stock registration

Posted By Lauren Heartsill Dowdle On August 19, 2010 @ 3:40 pm In Industry Briefs | No Comments

General Motors filed registration papers to sell shares of stock to the public, roughly one year after the company emerged from bankruptcy.

Neither a price nor the numbers of shares that will be offered to the public were announced. The stock may go on sales in November, Bloomberg News reported.

The United States owns about 61 percent of the company, and it is expected that the government will sell some of its shares to begin recouping the more than $50 billion it spent for its stake in the automaker.

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