US: GM increases common stock size to 478m shares
General Motors has today announced an increase in the proposed size of the offering of its common stock to be sold by certain of its stockholders from 365 million shares to 478 million shares.
Both of these share totals exclude the amount that the underwriters have the option to purchase to cover over-allotments, if any.
The company previously announced an increase in the estimated price range for the offering of common stock to US$32 to US$33 per share. The final terms of the offering will be determined at the time of pricing.