Deals wrap: GM debuts
General Motors prepared for a dramatic return to the stock market with what is set to become the world’s largest initial public offering, less than a year and a half after emerging from bankruptcy. “I think it shows that investors think that the worst is over and I agree,” said Morningstar analyst David Whiston about the oversubscribed IPO.
Small investors are clamoring for a piece of General Motors but financial advisers are not confident they will be able to satisfy client demand. The U.S. government says it has achieved its objective and is prepared to relinquish majority ownership in the resurgent carmaker.