The Treasury Department revealed in its August report to Congress that it has sold $811 million worth of General Motors common stock last month.
The report, released this week and dated Sept. 10, said the government has recovered approximately $35.4 billion of the $49.5 billion bailout issued to GM.
The price per share of stock in July and August will be released later on this year.
GM stock was purchased in a range of $33.50 to $37.18 in August.
"At the midpoint of $35.34, the government would have sold roughly 23 million shares," the Associated Press said. "In July, the government sold $877 million worth of stock. At the midpoint of $35.56, it would have sold roughly 25 million shares."
This would leave it with approximately 186 million shares. Those shares would have to sell for an estimated $76 each for the government to "break even" according to the Associated Press.
GM shares closed on Sept. 10 up 52 cents, or 1.4 percent, at $37.
Back in January, the Treasury revealed a plan to sell all of the shares by no later than 2014. They hired JPMorgan Securities and Citigroup Global Markets to complete the sale.
GM almost ran out of money back in 2008 and had to ask the government for help to get through bankruptcy reorganization. Since receiving a bailout, GM has posted 14 consecutive profitable quarters, according to the automaker.
Related Articles:
NASA's Curiosity Rover Takes Its Longest Trip Yet on Mars
Microsoft Surface 2 Release Date: 10.6-Inch Device Set for Sept. 23 Debut
2 Million Bikers to D.C.: 9/11 Anniversary Rally Still on Despite Permit Issue
Walmart Trade-In Offers up to $300 for a Used iPhone 5
2013 Frankfurt Auto Show: 2014 BMW i8 Priced at $136,625 (SLIDESHOW)
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?
