China: SAIC Motor completes US$1.5bn share placing

SAIC Motor Corporation has announced in a statement to the Shanghai Stock Exchange that it has completed a private share placement that raised Yuan 10bn (US$1.5bn). According to a Bloomberg report, Shanghai Automotive Industry Corporation, the company's parent, agreed to buy about 10% of the 720.98 million shares in the placement Subscribe to Automotive World … Continued

• By Webmaster
• December 15, 2010