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GM IPO Said Likely to Price at High End or Above

General Motors Co. may sell next week’s initial public offering above the forecast price range and exercise an option to increase the size of the IPO amid signs of brisk demand, two people familiar with the deal said.

The reception six GM executives have received from investors on this week’s roadshow to promote the IPO has been strong enough to sell the shares at the high end of the $26 to $29 offering range or above $30, said the people, who asked not to be identified because the information is private. SAIC Motor Corp., GM’s partner in China, will probably be among the buyers, three people familiar with the plans said.

GM will probably exercise its so-called greenshoe or overallotment option, granting underwriters 54.8 million more shares, the people said. That would help the U.S. Treasury Department recoup more of the public’s $49.5 billion investment in the Detroit-based automaker. Strong demand for the IPO may also help secure higher prices when the U.S. sells the rest of its shares in later offerings.