The 102-year-old car company General Motors (GM) is set to go public on Thursday after a government-forced bankruptcy and bailout in November 2008. The bailout cost taxpayers about $ 50 billion. Analysts estimate the stock price would need to hit $ 53 dollars before the government can recoup its investment. GM plans to sell about half-a-billion shares for $ 33 each in its IPO. The company’s overall valuation stands at $ 20.1 billion to $ 23.1 billion.
In a press statement late
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