GM IPO Filing Will Occur Next Week;

GM's IPO filing will take place next week. GM has delayed its filing until early next week as it waits for updates. It will also have a change in CEOs on Thursday. GM models can be found at a Port Charlotte Used Cars dealership. GM has recently announced that the company has had improved second quarter results from 2010. Volkswagen Deals offers deals on various models that are competing with GM to take bigger market shares.

Washington DC Chevrolet and other GM dealers hope to benefit from the IPO which will provide GM with many more vehicle models and money for new vehicle development. GM will wait to file their IPO next week and companies that are looking to sell their shares on a public network have to go through a rigorous approval process. GM will also be changing CEOs from Ed Whitacre to Dan Akerson. The shifts in CEOs also delayed the IPO.

GM has not released details on the IPO. GM will file a prospectus of several hundreds of pages which will detail the company's bankruptcy and changes it has made in order to restructure. It also will detail the risk of ownership of the company and other risk factors. The company will be added a risk factor with the departure of the CEO under these conditions which may prove to be poor timing for the company.

A GM source said that pricing decisions would not be made until GM's IPO date was set and the IPO is expected to take place some time in the fourth quarter. GM secured a $5 billion credit facility which is the last step before the company's IPO and the IPO will make the US government a minority shareholder in the company. At the moment, the US government owns 61% of GM.