General Motors CEO Mary Barra tried to defend her $29 million paycheque as nearly 13,000 auto workers in the United States went on strike demanding better pay.
GM has cut shifts at several U.S. plants this year as inventories of unsold cars have ballooned. Industry analysts said more jobs could be at risk as the automaker wrestles with a permanently shrinking production of small and midsized sedans.
The offering will be underwritten by JPMorgan. The size of the offering was not mentioned in the filing papers.
Italy's Fiat SpA bought the US and Canadian governments' stakes in Chrysler Group LLC, becoming the majority shareholder in the US automaker with the ability to appoint more board members.
General Motors Co is calling back about 2,000 workers and will be at full employment this fall, said United Auto Workers vice president and head of GM union members Joe Ashton.