Finance History | 11 Wall Street — Thirty-Three Dollars After the Bankruptcy Book Closed
· 2010-11
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Finance History | 11 Wall Street — Thirty-Three Dollars After the Bankruptcy Book Closed
kevin
People treat General Motors as a Detroit motor shop that always printed GM after a finished car book.
The November 2010 issuer was General Motors Company, the post-bankruptcy successor.
The old General Motors Corporation common had been delisted in 2009.
The new company priced 478 million common shares at 33.00 dollars each in 2010 currency.
It also sold 87 million shares of mandatory convertible preferred stock.
The letters GM opened on the New York Stock Exchange on 18 November 2010.
The first print was 35 dollars.
The session closed at 34.19 dollars.
The common sale raised 15.8 billion dollars in 2010 currency before overallotments.
The mechanism is a successor IPO that put a government-rescued motor book back on the listed tape.
The pin is the Broad Street facade of the Exchange on that opening.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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