Cars

GM says happy with SAIC's participation in its IPO

(Agencies)
Updated: 2010-11-19 14:18
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SHANGHAI - General Motors said on Thursday it was happy with China's SAIC Motor Corp's decision to participate in its public offering.

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"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 US carmaker's China unit.

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