There is now confirmation from Dow Jones. An amended filling of the S-1 is expected tomorrow with new details. If all facts are as stated, the treasury stake will be reduced from an original 61% to 26%. It is a fact that the road show has gone off in a spectacular way. The demand clearly outstrips supply exponentially, and it looks like GM and the treasury feels that they can easily place the additional stock without much trouble. There is already some speculation, and I have tried to refrain from commenting on the many rumors that are/have been circulating, but it is my opinion that this action will likely increase the retail allocation to some degree. As I stated earlier in an earlier email…for now I am NOT changing my rating of 4. I strongly believe that GM and the treasury have thought out the serious repercussions…if this IPO does not work.
http://www.sec.gov/Archives/edgar/data/1467858/000119312510262471/ds1a.htm
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