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WASHINGTON — Taxpayers’ earnings from General Motors’ recent initial public offering have risen to $13.5 billion, the U.S. Treasury said Thursday.
The additional gains stem from the successful sale of nearly 54 million more shares of the company’s common stock, which underwriters had the option to sell within 30 days of GM’s IPO — one of the largest in U.S. history.
The Treasury last month said it had received $11.7 billion from the sale of 358,546,795 GM shares through the company’s IPO.
The U.S. spent $49.5 billion to bail out General Motors last year, giving taxpayers shares that accounted for more than half the company’s common stock. Dow Jones Newswires
