NEW YORK -- General Motors Co. plans to begin courting investors for its initial public stock offering immediately after the Nov. 2 midterm congressional elections, two sources familiar with the plans told Reuters.
GM's roadshow is to begin Nov. 3 and last two weeks, the sources said. The IPO is expected to be priced on Nov. 17 and debut Nov. 18, they said. They cautioned that the plans were still being completed and could change based on how U.S. stock markets perform.
Separately, The Wall Street Journal said the U.S. Treasury Department, looking to minimize any political fallout, is concerned about how many foreign investors it should allow to buy big stakes in GM's IPO.