Reuters is reporting General Motors Co will list its shares on two global exchanges after an upcoming stock offering dubbed “Project Dawn,” intended to pay back a portion of its government bailout, a source familiar with the situation.
The shares are expected to be traded on the New York Stock Exchange and the Toronto Stock Exchange, the source said.
GM is not expected to issue new common stock in the IPO but plans to sell preferred shares, the source said.
GM’s rebirth as a public company has been dubbed “Project Dawn” by those involved in the process, the source said.
The source declined to be named because preparations for GM’s initial public offering remain private.