GM stocks could be publicly offered as early as October of this year according to the government treasury department. GM said it may sell shares in late 2010 or early 2011, but the timing will be determined by the financial markets and the overall health of the auto industry. This much anticipated stock sale, is expected to be among the largest initial public offerings in U.S. history. The stock offering is a key part of GM’s recovery as it emerges from a government led bankruptcy last year.

“GM must determine that it is, in all relevant respects, ready to become a public company. For those reasons, it is critical that the process of preparing for a potential IPO be managed by GM,” the treasury department said. To pay off its shareholders the stock market would have to value GM at more than $70 billion. That would be nearly double Ford Motor Co.’s market, but far less than the total value of Toyota’s shares.