DETROIT (AP) — An IPO research firm says it has been told General Motors plans to start trading shares on Nov. 18.
IPO Boutique, a firm that researches initial public offerings, says the automaker wants to start a road show to drum up interest from investors on Nov. 3, the day after the midterm congressional elections.
IPO Boutique managing partner Scott Sweet says his information comes from multiple people on Wall Street but declined to identify them.
Two people with knowledge of the process say the automaker's board hasn't approved a date for the IPO but it is expected to meet next week to discuss the issue. GM is in a "quiet period" before an IPO, so no one is authorized to discuss the process publicly.
GM spokeswoman Renee Rashid-Merem wouldn't comment on the timing of the IPO.
