G.M. Prices Its Shares at $33 in Return to Stock Market – NYTimes.com: “Fulfilling an implicit mandate from Treasury, the largest allocation of G.M. shares has been made to institutions representing American retail investors, these people said. The move was meant in part to blunt criticism that taxpayers would be cut off from what company and government officials insist was a potentially big rise in G.M. shares. (Several of the people involved in the offering said they expect to see a potential 10 to 20 percent jump in the share price on Thursday, typical for an initial offering.)”
(Via The Daily Beast.)
If you are going to do this, at least do it right. So far so good.