The U.S. Treasury Department has priced 30 million share of General Motors stock.
The GM shares were priced at $34.41 per share. The sale is expected to result in aggregate proceeds to the government of $1.03 billion.
Treasury set the price for its stock after the markets closed on Thursday. GM stock closed Thursday at $34.44 per share. The stock had closed at $35.49 on Tuesday, the highest closing since December 2010.
Shares of GM stock are up about 19% since the beginning of the year.
Treasury plans to sell all GM shares by early 2014.
Source: Associated Press via Detroit Free Press
