Chinese carmaker SAIC, GM's partner in China, is finalising plans to buy a roughly 1 per cent stake in the flotation, worth about US$500 million, The Wall Street Journal reported on Friday. SAIC is owned by the Shanghai city government.
2010/11/19
"China to play role in General Motors' IPO" from South China Morning Post
"This is the first time Chinese government banks have taken part in a large US-issued offering, according to tracking firm Dealogic. The banks are listed as co-managers in the offering, meaning they will sell a portion of the new shares.
Chinese carmaker SAIC, GM's partner in China, is finalising plans to buy a roughly 1 per cent stake in the flotation, worth about US$500 million, The Wall Street Journal reported on Friday. SAIC is owned by the Shanghai city government.
Chinese carmaker SAIC, GM's partner in China, is finalising plans to buy a roughly 1 per cent stake in the flotation, worth about US$500 million, The Wall Street Journal reported on Friday. SAIC is owned by the Shanghai city government.
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