Calcutta News.Net
Monday 15th November, 2010
China will play a part in the General Motors IPO when the initial public stock offering is listed next week.
Two of the banks involved in the offer are Industrial and Commercial Bank of China and China International Capital Corp.
It will be the first time Chinese government banks have participated in a major US-issued IPO.
The banks have been registered to sell a portion of the new shares.
Chinese automaker SAIC, which is GM’s partner in China, has already put in an order to buy a one percent stake, worth about $500 million, in GM’s IPO.
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Article source: http://www.calcuttanews.net/story/707541
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