General Motors (GM) is to make a return to the New York Stock Exchange - a year-and-a-half after it filed for bankruptcy protection.
The automotive giant, which owns the Vauxhall plant in Ellesmere Port, has announced plans to raise $13bn (£8bn) through a public share offering.
GM had to bailed out by the US Treasury last year to the tune of almost $50bn.
The US Government currently holds a 61% stake in the firm and this will be reduced to 43% following the public offering.
It plans to issue 365m common shares with an estimated price range of $26 to $29, alongside about $3bn of preferred shares that will later become common stock.
The offering, one of the largest US IPOs since Visa’s $19.7bn offering in 2008, is scheduled for November 18.
While there is no immediate implications for GM Europe, the move is a sign that the company is a step closer to ensuring its long-term survival.
Vauxhall’s Ellesmere Port plant employs about 2,000 staff making the Astra model.
GM Europe has indicated that the plant is in pole position to build the new Ampera electric vehicle.
GM said it sold 183,759 vehicles in the USin October, up 3.5%on a year earlier.
