GM Eyes an IPO for 2010

As a private company, GM has no obligations to report quarterly and annual results. However, in light of the US government’s investment in the firm – and the taxpayers’ interests — the automaker will nonetheless continue its periodic reports. Actually, there will be different reports – one for the “old GM” (which is in liquidation) and the “new GM” (created through the bankruptcy process).

Like any investor, the US government wants to ultimately get liquidity. Interestingly, this means that GM is expected to pull off a public offering next year (yes, another reason to keep the filings in motion).

Currently, the Treasury owns 60.8% of GM.

As for Chrysler, the prospects for an IPO are not as hopeful. It looks like there won’t be an offering until at least 2011.