GM eyed Asia listing as well

General Motors considered an Asian exchange for its historic return to the public markets, but ruled it out because it would have delayed the IPO.

US: GM eyed Asian listing - report

23 August 2010

General Motors considered an Asian exchange for its historic return to the public markets, but ruled it out because it would have delayed the IPO, people familiar with the matter have said.

US [updated 12:55BST]: GM files IPO paperwork with SEC

19 August 2010

General Motors Company last night announced it had, as widely speculated earlier this week, filed a registration statement for an initial public stock offering (IPO) with the US Securities and Exchange Commission (SEC). The proposed public offering consists of a mix of common stock and series B mandatory convertible junior preferred stock, the automaker said.

BACKGROUNDER: GM's SEC filing makes risks plain

19 August 2010

It takes little more than a glance at General Motors' 'Form S1' filing with the US Securities Exchange Commission (SEC) seeking approval for its initial public offering to see that the restructured automaker has had to be extremely frank about the risks it sees ahead and its future prospects.

US: GM may sell preferred stock alongside IPO - report

18 August 2010

General Motors may sell preferred stock alongside its initial public offering of common shares, according to a draft of its regulatory filing and two news agency sources briefed on the plan.

GOLDING’S TAKE: Want to buy some General Motors shares?

13 August 2010

Governments owning shares in GM will be offering them for sale any minute now. The American people want it off the books as fast as possible and who can blame them? There is a window of opportunity because car demand and equity demand are both reasonably strong. They could weaken any day.

THE WEEK THAT WAS: GM breaks off the silly season

13 August 2010

Yesterday, it started to look like what we of the meedjah refer to as the no-real-news-is-happening 'silly season' was, finally, over - or maybe not. The latest hype surrounding the intercom ranting, beer can-grabbing, emergency-slide activating JetBlue flight attendant in the US suggested not, as did this ingenious, non-story-generating internet hoax; then came GM, lots of GM, all at once.

US: GM's Ed Whitacre to step down as chairman and CEO

12 August 2010

GM chairman and CEO Ed Whitacre is to step down with Dan Akerson taking over from 1 September and as chairman at the end of the year.

BACKGROUNDER: Meet the new GM chief

12 August 2010

Dan Akerson, named General Motors' new chairman and CEO today, has, like his predecessor Ed Whitacre, a strong background in telecommunications and related industries and solid experience restructuring large companies.

US: GM Q2 profit largest since 2004

12 August 2010

General Motors Company today announced second quarter 2010 net income of US$1.3bn (earnings per share of $2.55) - its largest quarterly profit since 2004 - on revenue of $33.2bn. Earnings before interest and tax (EBIT) was $2.0bn.

ANALYSIS: GM's impressive Q2 paves way for IPO

12 August 2010

GM's sparkling second quarter results today (12 August) of US$1.3bn net income on revenue of US33.2bn have been hailed as "tremendous" by a North American auto analyst.

US: GM secures US$5bn in credit, IPO filing Friday

12 August 2010

General Motors has secured a US$5bn credit facility, returning to the capital markets a year after emerging from bankruptcy.

US: Chief confirms GM started on IPO process

6 August 2010

General Motors has started on an initial public offering of shares that could be the largest ever for the US market but hasn't decided on the timing, chief executive Ed Whitacre said. He also confirmed a revamp of the US dealer network, hinted second quarter results would show a profit, and said GM may hire more factory workers and possibly reopen a shuttered plant.

US [updated 16:35]: GM buying AmeriCredit to target subprime and lease markets

22 July 2010

General Motors on Thursday said it would acquire independent auto finance company AmeriCredit, in an all-cash transaction for US$3.5 bn, "to meet customer demand for leasing and non-prime financing for GM vehicles", giving it a captive finance arm for the first time since 2006 when it sold control of GMAC, (recently renamed Ally Financial).