Wall Street Wants to Sell GM Initial Shares

The initial public offering of GM, has generated tremendous excitement on Wall Street, one year after the U.S. manufacture filed for bankruptcy.

The initial public offering of GM, has generated tremendous excitement on Wall Street, one year after the U.S. manufacture filed for bankruptcy.

Wall Street banks including big names such as Gloman Sachs, JPMorgan Chase and Morgan Stanley have lined up to sell its IPO shares with low underwriting fees.

GM has completed its initial S-1 filling that planed to submit to the U.S. Securities and Exchange Commission and according to foreign media, the filing had been expected on Tuesday while Reuters quoted three sources as saying the decision now depends entirely on GM and not the underwriter banks.

GM's IPO is expected to be between $15 billion and $20 billion, which would make it one of the largest global IPOs.

Last summer when the U.S. government announced the bankruptcy, GM was accused of “wiping out creditors” and “critics warned that Wall Street investors would have a long memory,” Reuters said.