GM IPO Coming in October

NYT headline:

G.M. Spends $3.5 Billion for Lender to Subprime.

The purchase of Americredit is the last step GM needs before it can take itself public again. With that piece of the puzzle in place, “Government Motors” can now accelerate its bid to return to the NYSE.

Look for GM to file its SEC registration statement as soon as next month. Their IPO should raise $10-20 billion dollars.

If the filing takes place later this summer — before Labor Day — then the initial public offering itself will occur in the Fall. I would expect that GM will be public prior to the 2010 November Congressional elections.

No word on who the underwriters will be — but post SEC settlement, it would be surprising if Goldman Sachs was not prominently on the book, along with fellow bail-outtees Morgan, BA/MER and Citi. If had to guess, it would be that the lead banker will be JPMorgan, led by wonder-boy/WH fave Jamie Dimon.


UPDATE: July 23, 2010 9:25am

Time magazine says “GM IPO? Don’t Hold Your Breath,” but Reuters claims the IPO registration statement will be filed after Q2 earnings are reported . . .

When Does GM Get Kicked Out of the DJIA? (November 7th, 2007)

When Does GM Get Kicked Out of the Dow, part II (June 26th, 2008)

GM: Out of the Dow (May 7th, 2009)

Top 10 Things the Letters “GM” Stands For (April 2nd, 2009)

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