Cars and Drivers
GM CFO Outlines IPO Timeline... Or Re-IPO (GMGMQ, GM)
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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
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