General Motors Chief Executive Officer Dan Akerson and other members of the company visited the New York Stock Exchange earlier today to celebrate the launch of its much-anticipated public offering, in which it raised an estimated $20.1 billion, making it not only the largest U.S. IPO of 2010, but one of the largest in history.
Akerson rang the opening “horn” on the NYSE as GM’s common stock made its debut at $35 a share and rose as high as $35.99 in early trading.
The issue included 478 million shares of common stock, for a total of $15.77 billion, and 87 million shares of mandatory convertible junior preferred stock, for a total of $4.35 billion.
Side Note: Where is Whitacre?
Hit the jump for a video of Akerson talking about one of the biggest days is GM’s history.
– By: Omar Rana
Source: Yahoo Finance