GM formally files notice to go public

General Motors Co. files a regulatory notice today announcing its intention to begin publicly selling shares of the reorganized company, marking a first step towards unwinding the U.S. government's 60.8% stake

General Motors Co. files a regulatory notice today announcing its intention to begin publicly selling shares of the reorganized company, marking a first step towards unwinding the U.S. government’s 60.8% stake.

GM says certain current individual shareholders will sell common stock, while the company will issue mandatory convertible junior preferred stock and use the proceeds for general corporate purposes.

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