Cars and Drivers
GM CFO Outlines IPO Timeline... Or Re-IPO (GMGMQ, GM)
Published:
Last Updated:
Everyone wants to know when an initial public offering of General Motors (GMGMQ) will occur. Its emergence from bankruptcy has only expedited the curiosity of when the company will be public again. GM’s new CFO Ray Young just gave a rather lengthy CNBC interview and this was among the issues discussed.
Young said that the new company has to close out the fiscal year, and then “technically” the soonest an IPO could occur is in the second quarter of 2010. He also noted that the automaker would have to assess the situation and it depends on items.
While he noted thatGM wants to do this in the soonest and most orderly fashion possible, it seems as though the long and short of the matter is that we could see an IPO in that Q2-2010 period. Just remember that “could” is no formal promise and is definitely not a binding commitment.
Think of the good news… There will be another auto stock that traders can short sell.
Jon C. Ogg
July 10, 2009
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
