NEW YORK: In a move to increase its liquidity, American giant General Electricals will raise up to USD 15 billion through sale of shares with legendary investor Warren Buffett agreeing to buy stocks worth three billion dollars.The diversified conglomerate would be offering USD 12 billion of common shares and preferred stocks to the tune of three billion dollars to Buffett's Berkshire Hathaway in a private offering.Commenting on the plan to raise more funds, GE Chief Executive Jeff Immelt said the action would do two things for the company's investors.

"First, it enhances our flexibility and allows us to execute our liquidity plans even faster. Second, it gives us the opportunity to play offense in this market should conditions allow."In addition, we remain committed to the Triple A rating and in the recent market volatility, we continue to successfully meet our commercial paper needs," Immelt pointed out in a statement.Meanwhile, Buffett, who has agreed to invest three billion dollars, said that GE is the "symbol of American business to the world"."I have been a friend and admirer of GE and its leaders for decades.

They have strong global brands and businesses with which I am quite familiar. I am confident that GE will continue to be successful in the years to come," Buffett, who is the Chairman and Chief Executive of Berkshire Hathaway, said.