NEW YORK (TheStreet) -- GM is planning to file for an IPO during the week of Aug. 16, according a Reuters report.

Two Reuters sources say that the IPO registration papers will be filed right after the company reports second-quarter earnings, which falls in the week of Aug. 16.
GM

The sources indicate that GM wants to complete the IPO before the U.S. mid-term elections in November.

On Thursday, GM announced that it had agreed to acquire subprime lender AmeriCredit ( ACF) in an all-cash transaction valued at about $3.5 billion.

GM said it entered the deal in order to meet customer demand for leasing and non-prime financing for GM vehicles, though some are wondering whether the deal is appropriate, given AmeriCredit's spotted history with subprime lending. whether the deal is appropriate

CRT Capital analyst Kirk Ludtke believes that the transaction will likely be completed, given that the "new" GM appears to be paying a full price for AmeriCredit; another likely bidder is unlikely and the transaction appears to face relatively low regulatory hurdles.

The transaction is expected to close by the end of the fourth quarter of 2010.

AmeriCredit stock is trading at $23.91 at the opening bell.
GM-AmeriCredit Deal: Outrage or Wise Move?
Click here for our poll on the GM-AmeriCredit Deal

-- Reported by Andrea Tse in New York

RELATED STORIES:

Get more stock ideas and investing advice on our sister site, Stockpickr.com.

Follow Andrea Tse on Twitter and become a fan on Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More from Stocks

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament

WATCH: 4 Experts Lay Out How Wealthy Investors Should Play Today's Risky Market

WATCH: 4 Experts Lay Out How Wealthy Investors Should Play Today's Risky Market

These 5 Autonomous Driving Stocks Are Flashing Buy Signals

These 5 Autonomous Driving Stocks Are Flashing Buy Signals

Stocks Waver Amid Progress on U.S.-China Trade; Dow Slips

Stocks Waver Amid Progress on U.S.-China Trade; Dow Slips

Stacey Cunningham: From Intern to Head of the New York Stock Exchange

Stacey Cunningham: From Intern to Head of the New York Stock Exchange