DETROIT (Reuters) - General Motors Co GM.UL raised the price range and number of shares to be sold in its initial public offering of common stock and added $1 billion to a preferred stock offering, according to regulatory filings.
The increases push its overall value as high as $22.74 billion.
A summary of the potential value of the offering follows based on the common stock and preferred offerings and overallotments to underwriters. The details are filings with the U.S. Securities and Exchange Commission.
* Total IPO and preferred offerings before overallotments: $19.3 billion to $19.77 billion. The midpoint would be $19.54 billion.
* Total IPO and preferred offerings including all overallotments: $22.19 billion to $22.74 billion. The midpoint would be $22.47 billion.
* Treasury total take from IPO and preferred offering: Up to $15.7 billion from common stock sales including overallotments and $2.1 billion from selling its Series A preferred shares to GM when the IPO is completed.
* Common share price range: $32 to $33 per share
* Common shares offered: 478 million shares
* Optional underwriter overallotment: 71.7 million
* Total common shares with overallotments: 549.7 million
* Series B preferred shares price: $50 per share
* Preferred shares offered: raised to 80 million
* Optional underwriter overallotment: 12 million shares
* Total preferred shares with overallotments: 92 million
* Preferred shares proceeds: $4 billion
* Preferred proceeds with overallotment: $4.6 billion
Reporting by David Bailey and Kevin Krolicki in Detroit, additional reporting by Clare Baldwin and Soyoung Kim in New York; editing by Matthew Lewis and Derek Caney