The recent high levels of IPO activity show no signs of slowing with ten deals scheduled on the US IPO calendar for this week, including General Motors (GM), which expects to raise $10 billion in its IPO and rank among the top five biggest IPOs in US history.
General Motors is the world's second largest automaker with 7.5 million vehicles sold in 2009 and operations in over 120 countries. GM is on pace to deliver its first profitable year since 2004, and it is speeding toward a $10 billion IPO later this week, currently scheduled to price Wednesday for trading on Thursday. At the midpoint of the proposed $26-$29 range, General Motors would command a market value of $49 billion. General Motors plans to dual list on the NYSE and the Toronto Stock Exchange under the symbols GM and GMM, respectively.Morgan Stanley, J.P. Morgan, BofA Merrill Lynch and Citi headline a long list of underwriters on the deal.
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