SAIC Motor Corporation Limited (600104.SH) announced last Saturday that its private placement plan was approved by the State-owned Assets Supervision and Administration Commission of Shanghai Municipality.
According to its plan, SAIC Motor will offer no more than 964.01 million ordinary shares via private placement, to raise no more than 15 billion yuan.
Its parent company Shanghai Automotive Industry Corporation (Group) and core employee stock ownership plan will pay no more than three billion yuan and 1.17 billion yuan respectively to participate in the private placement.
Latest comments