The paperwork is done and GM is ready for its IPO, according to a Reuters report.
GM’s board of management has completed the papers for an initial public offering and is expected to file them with the Securities and Exchange Commission in the United States today, according to Reuters sources with knowledge of the proceedings.
According to the report, GM’s filing has been delayed by the departure of its CEO Ed Whitacre last week, who will be replaced by Dan Akerson on September 1.
GM expects to raise between $15 billion and $20 billion in the IPO, which will make it one of the biggest ever. It has also lined up a long list of banks to underwrite the effort but those details have not been finalized.
GM is currently 60 percent owned (a controlling stake) by the United States federal government.
We can expect more news to follow soon.

Source: Reuters