Shares Of General Motors (GM) Rise By 7%

Shares of General Motors (GM) rise by 7% in the first trading day after the automaker offered to the public record.

The share price rose as high as $ 35.99 in early trading in New York, which is estimated at $ 33's by the company.

GM has raised 20.1 billion U.S. dollars (12.6 million euros) thanks to its offer, which is selling most of the United States to date.

President Obama has called for the sale of "milestone" for the company and the U.S. auto industry.
The amount raised could reach a record $ 23.1bn in the world if the underwriters exercise their option to sell more shares.

Strong investor demand allowed the manufacturer to raise the price of the shares striking offered at $ 33 to $ 26 originally expected.

GM is back on the market after the government 50 billion U.S. dollars in ransom.

The automaker has raised $ 20.1 billion from the sale of shares. However, an over-allotment option, which will be phased over the next 30 days, adding $ 3 billion to that figure, as GM beyond the 22.1 billion U.S. dollars raised by the market launch of the Agricultural Bank of China .

The sale of shares, known as an Initial Public Offering (IPO) will allow the U.S. government to reduce its current stake of 61% in the company as little as 33%.

GM returned to profitability this year for the first time since 2004. The company reported $ 5 billion over the first nine months of this year.

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