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Next week's IPO for General Motors (GM) is heavily oversubscribed - to the tune of six times, at...

Next week's IPO for General Motors (GM) is heavily oversubscribed - to the tune of six times, at $60B for the $10B in common shares - and should price at the top of its $26-29 range, sources say. With overallotment, the total raise could be $15.65B, putting it just behind Visa (V) as the second-largest U.S. IPO.
Comments (4)
  • nightfly
    , contributor
    Comments (1017) | Send Message
     
    Pretty good for a bankrupt company.

     

    I guess the fools are back at the trough now that they have a TBTF sticker - oh wait, bond holders and stock holders got screwed last time.
    12 Nov 2010, 02:45 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (5779) | Send Message
     
    with that much demand, the price is way too low. Seems so simple. The whole system reminds me of the BCS in college football. 90% of people know the IPO method is flawed but the golden rule determines the outcome. Those in charge benefit too much to change it. Absolutely insane!
    12 Nov 2010, 02:49 PM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    I wonder if Bernanke used a little QE money to stimulate a little demand in GM stock. Yeah, we're also selling it, but how is that different from what they're doing in the Treasury market?
    12 Nov 2010, 02:49 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    I hope the unions buy it all.......they deserve it...
    12 Nov 2010, 05:16 PM Reply Like
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