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DETROIT – General Motors said Wednesday it would price its common stock at $33 per share in an initial public offering that could be worth $23.2 billion. The IPO, to take place Thursday, will return GM to the New York Stock Exchange for the first time since June of last year, when it was booted off as it headed into bankruptcy protection.

The sale will draw the U.S. government closer to its goal of recouping the $50 billion it gave GM to help it avoid financial ruin.

Demand for GM shares is so strong that the company's bankers are likely to exercise options to sell a maximum number of shares. That means 550 million common shares would be sold by the government and other GM owners starting Thursday for a total value of $18.2 billion.

The government will sell 412 million shares and get $13.6 billion. It will still have about 500 million shares, or about 33 percent of GM. It would have to sell them for $53 a share, or $26.4 billion, for taxpayers to get back their $50 billion back.

At $18.2 billion, the common share sale would be the fifth-largest IPO in history. GM will also sell up to 100 million shares of preferred stock worth a total of $5 billion. The preferred and common shares combined would make the IPO worth $23.2 billion, which could be the largest IPO in history.

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U.S. Secretary of the Treasury Timothy Geithner speaks with the Minister of French finance Christine Lagarde to the g-20. He wants that countries commit to specific commercial plugs. Photo: EPA

With China resolutely refusing the yuan to rise more quickly, the United States has moved the discussion on the first day of the G20 Summit to address trade imbalances, the issue of root behind the confrontation of exchange rate.

Timothy Geithner, US Treasury, said Secretary G20 members that they must commit to specific commercial plugs, allowing the surpluses and deficits in their account current, widest is exchanges of goods and services, not more than the gross domestic product 4pc.

China's current account surplus has been 5 9pc in 2009, with almost half of its peak 10 6pc in 2007.United States, on the other hand, had a deficit of 3pc last year.

In a letter addressed to G20, Mr. Geithner claimed a "collaborative effort" on the issue, but he said it should be "exceptions" for countries which have imported large quantities of raw materials.

The u.s. strategy was seen as a way to side-step a direct confrontation on the monnaies.Elle was supported by United Kingdom Korea, Australia and the Canada, but opposition from large exporters such as the Japan and the Germany immediately.

Rainer Bruederle, Minister of finance Germany rejected approach "command economy", while the Japan Noda Yoshihiko said "setting numerical targets would be unrealistic.

The India also stated that trade plugs would be hard at work, while the Russia stated that there is no numerical limits set in the final Declaration of the Summit.

Mr. Geithner has also called for g-20 countries to refrain from "weakening of their currency or preventing an undervalued currency appreciation" Mr. Geithner, also called the IMF monitored the G20 commitments added: "Advanced G20 countries ensure to against excess volatility and disorderly movement in exchange rates.

Guido Mantega, Minister of finance Brazilian, who was not of the G20 Summit also revealed that Mr. Geithner had called him to reassure that the United States had no intention of allowing the dollar weakened further.

"It guarantees us policy is not to weaken the dollar, on the contrary, it is to strengthen the dollar,", said Mantega."He said that the impact of the policy of the Federal Reserve has be overestimated .c ' is difficult, if you weaken the dollar and the Chinese to let the yuan appreciate", he added.

The comments of Mr. Mantega helped move the dollar against the euro of $1.3918 euro at $1.3895 prior undermining later in the dollar journée.Le also stabilized as a whole against the Japanese yen.

However, as the first day of closed meetings, there was little sign that currency problems could be resolved.

With certain growing scepticism that the g-20 is an instance sufficiently targeted at overcoming the global economic problems, Lee Myung-bak, South Korean President, welcomes the Summit, warned Ministers only if they have not reached a compromise "we do not operate bus, train or plane services you back".

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