TEL AVIV (MarketWatch) -- General Motors Co.'s initial public offering is set for Thursday, and The Wall Street Journal reported that the auto maker, the U.S. government and the underwriters are trying to decide whether to price the deal above expectations. In a report on Monday, the Journal said the estimated pricing of GM's return to the stock market is $26 to $29 a share. GM has said it will issue 365 million shares, representing 24% of the company. GM, the Treasury and the underwriters also are trying to decide whether to exercise an option to issue more shares, people familiar with the talks told the Journal. The option is 54.8 million shares, or another 3.6%. After the IPO, the Treasury's stake in the No. 1 U.S. auto maker will drop to 35% from 61%, the WSJ reported.