GM has largest IPO in US history

**Fovezer** · 11-18-10, 08:40 PM

Over $20 billion made.
FT.com / Companies / Automobiles - GM raises $20.1bn in largest US IPO

The bailout saved 1.4 million jobs.
Federal auto bailouts reportedly saved 1.4 million jobs | detnews.com | The Detroit News

Looks like the bailout many here were poo-pooing worked out fantastically. It revitalized GM and saved over a million jobs. What more could you ask for?

**CivilWars** · 11-18-10, 09:04 PM

You have to register to read the first link, FYI.

**CivilWars** · 11-18-10, 09:07 PM

And while I agree it is awesome news at least according to Reuters the government is still on the hook for a third for the company.

The U.S. government's stake in GM will drop to about 33 percent from 61 percent if all available shares are sold.

GM IPO raises $20.1 billion | Reuters

**rock_lobster** · 11-18-10, 09:12 PM

Hate the term "Saved jobs". You can make up any number you want and say you saved that many jobs. Clever ploy I must admit though.

**[CoFR]SirMoo** · 11-18-10, 09:26 PM

They are on the hook only if GM can't get its share price past $50/share by 2013.

**Nuckle** · 11-18-10, 09:39 PM

I heard something on the radio this week about China buying a portion or having something to do with this. Any truth to that? I am just asking. Been a really busy week that has no end in sight and I cant research it.

**Fovezer** · 11-18-10, 10:01 PM

Originally Posted by Nuckle

I heard something on the radio this week about China buying a portion or having something to do with this. Any truth to that? I am just asking. Been a really busy week that has no end in sight and I cant research it.

SAIC bought slightly less than 1%.
China's SAIC buys nearly 1 percent stake in GM - Yahoo! News

That's all I found, and don't see anything wrong with it.

**[CoFR]SirMoo** · 11-18-10, 10:03 PM

Originally Posted by Fovezer

SAIC bought slightly less than 1%.
China's SAIC buys nearly 1 percent stake in GM - Yahoo! News

That's all I found, and don't see anything wrong with it.

It was done as a symbolic gesture anyway. They already license a bunch of IP from GM for cheap domestic production, so they did this as saying "we believe in our partnership" type of thing.

**-Sauso-** · 11-18-10, 10:19 PM

I heard today on the news it was the 2nd largest in North American history just after Visa's little share issue in 2008.

See if i can find a link.

Ehhh couldn't find much just the last line in this link.

http://www.cbc.ca/money/story/2010/1...m-ipo-tsc.html

**Fovezer** · 11-18-10, 10:31 PM

Originally Posted by -Sauso-

I heard today on the news it was the 2nd largest in North American history just after Visa's little share issue in 2008.

See if i can find a link.

Ehhh couldn't find much just the last line in this link.

CBC News - Money - GM closes at $34.01 on TSX

Depends what measure you use. Going by total dollar value, GM is number one by what looks like quite a bit.
Motor City Today: So how big is GM’s IPO? | freep.com | Detroit Free Press