GM FILES FOR PUBLIC SHARE OFFERING

General Motors has filed for a sale of its shares to the general public. This represents an important step towards repayment of the government aid of 50 billion dollars received last year. The shares will be traded in New York and Toronto. The initial public offerings (IPO) of shares could be the largest since Visa Inc’s March 2008 sale which raised 19.7 billion dollars and may reach 20 billion dollars. The number of shares to be offered and the price range for the offering have not yet been determined.