A perceived demand for GM stocks has led the company to bump up the price of its upcoming share offering. The previous estimate of $26-$29 has increased to $32-$33. The automobile manufacturer has also increased the size of its preferred shares offering from 60 million to 80 million. At the current pricing, GM could raise nearly 18 billion dollars, which would help repay some of the 50 billion dollar taxpayer bailout.

According to Michelle Krebs, senior analyst at Edmunds.com, “The increased share pricing is a vote of confidence in the company and in the stock it is offering. It is a sign that the management of General Motors has done an extremely good job pitching the stock to investors and highlighting its positives over its challenges.” Strong sales on new cars and trucks helped General Motors earn $2 billion in the third quarter. Boosted by higher prices from newly introduced models and from overseas sales, the third quarter earnings nearly matched the first two quarters of the year combined.

Not everyone feel that the stock offering is ready. Consumer advocate Ralph Nader and two other consumer groups are asking that the government delay the offering in hopes of getting a better return. They say the offering is oversubscribed and a plague of accounting errors by GM, pose a risk factor to the IPO.

According to an Automotive News source, Chinese companies are among a handful of firms looking for a stake in GM. Others include European industrial groups, private equity firms and sovereign wealth funds. GM CEO Fritz Henderson acknowledged talks are ongoing between GM and six Opel/Vauxhall suitors, but couldn’t reveal any names because of a confidentiality agreement.