Obama Aide: Administration Hopes For GM To Have IPO In 2010
10 Juni 2009 - 9:57PM
Dow Jones News
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