DETROIT May 12 General Motors Co (GM.N) Chief
Executive Officer Dan Akerson bought 30,000 shares of the largest
U.S. automaker, valued at nearly $940,000, according to a filing
Akerson, who became chief executive of GM a little more
than two months before its blockbuster IPO, bought the shares
at $31.33 per share, according to the filing with the U.S.
Securities and Exchange Commission.
GM stock was trading around $31.40 in afternoon trading on
the New York Stock Exchange.
The company's shares have hovered below the IPO price of $33
per share as higher fuel prices have worried investors already
anxious for the U.S. Treasury to exit its position in GM.
The poor share performance was among the factors that
prompted the U.S. Treasury to hold off on a secondary offering
until August at the earliest, people familiar with the matter said
(Reporting by Deepa Seetharaman; Editing by Phil Berlowitz)