The figure is at the top of the revised price range GM set for the sale. The car maker is selling its shares after the close of the U.S. stock markets Wednesday.
At $33 a share, the offering would raise at least $15.8 billion, far more than initially expected. The value would rise to nearly $23 billion, when the sale of preferred shares is taken into account, and if GM’s underwriters exercise an “overallotment” option, which is expected. That could make it the largest global IPO in history by amount of money raised.