General Motors Co may delay its filing for an initial public offering to early next week from the initial target date of Friday after the unexpected departure of Chief Executive Ed Whitacre, a source familiar with the situation said on Thursday.
GM's several-hundred page prospectus, which it will file with the U.S. Securities and Exchange Commission, is complete, but GM may need to include an additional risk factor regarding the sudden management change, the source said.
The source said the IPO filing could still come as soon as Friday and would be delayed no longer than a few days.
The source requested anonymity because the preparations for the IPO are not public.
The U.S. Treasury, which has a 61 percent stake in GM after its $50 billion taxpayer-funded bailout, is considering selling its stake in several pieces over the next two to three years, the source said.
More than 10 banks which signed on to GM's just-completed $5 billion credit facility are expected to be part of the IPO underwriting syndicate, the source said.
(Reporting by Soyoung Kim. Editing by Robert MacMillan)