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Shares in the newly floated General Motors rose by 3.6 per cent on their first day of trading (18 November).
GM’s return to the New York Stock Exchange came 16 months after the carmaker exited Chapter 11 bankruptcy protection.
The event was marked by GM CEO Dan Akerson ringing the opening Bell at the NYSE. (pictured)
The newly issued stock was sold into the market by the US and Canadian governments and the UAW Retiree Medical Benefits Trust and was expected to reduce the ownership stake of each.
On the first day of trading shares closed at $34.19 from a start of $33, although they did reach a high of $35.60 during the day.
GM raised $20.1bn through its offering, making it the largest share sale in the US to date.
President Obama welcomed the move after his government had pumped $50bn into the bailout.
“Today, one of the toughest tales of the recession took another big step toward becoming a success story. American taxpayers are now positioned to recover more than my administration invested in GM, and that’s a good thing.”