GM says happy with SAIC’s participation in its IPO

SHANGHAI (BestGrowthStock) – General Motors said on Thursday it was happy with China’s SAIC Motor Corp’s decision to participate in its public offering.

“SAIC’s participation in GM’s public offering represents another milestone in our partnership,” Tim Lee, president of GM International Operations, said in a brief statement issued by the U.S. carmaker’s China unit.

It did not provide further details.

GM pulled off the biggest initial public offering in U.S. history on Wednesday, raising $20.1 billion after pricing shares at the top of an increased range in response to huge investor demand.

(Reporting by Soo Ai Peng; Editing by Jacqueline Wong)

GM says happy with SAIC’s participation in its IPO