The Obama administration hopes for a revamped General Motors Corp. (GMGMQ) to have an initial public offering of company stock in 2010, an administration official said Wednesday.

Ron Bloom, a senior member of President Barack Obama's auto industry task force, said the public offering would happen after GM emerged from bankruptcy and spent a period as a privately held company.

"It will take some time for it to achieve a listing on the stock exchange," Bloom said, adding that the first step would be for the company to have an IPO. "That would likely happen some time in 2010," he told the Senate Banking Committee.

GM is currently in bankruptcy protection.

-By Josh Mitchell, Dow Jones Newswires; 202-862-6637; joshua.mitchell@dowjones.com