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.

G.M. is planning to hold its first public stock offering in late November, giving the Treasury Department its first opportunity to begin selling off the 61 percent stake in G.M. How many shares the government decides to sell will be determined by the price offered. In order to break even, the Treasury Department estimates that the stock must sell for almost $135.00 per share.

Last week, the Treasury Department said it would not seek special deals with large investors to buy big chunks of its stake to ensure that small investors get a fair chance at buying GM stocks. “We expect that a large and diverse group of institutional investors will be offered an opportunity to participate, with no single investor or group of investors receiving a disproportionate share or unusual treatment.” the Treasury said.

But concerns about foreign influence over the largest American automaker are growing as Chinese automaker, the SAIC Motor Corporation, expresses interest in buying a stake in GM. The Shanghai-based company has had a longtime partnership with G.M. in China. They are one of China’s largest automakers and recently bought half of G.M.’s India division.

There was no comment from the Treasury about the possibility of a foreign company buying a big stake in G.M.