SAIC Looking To Buy GM IPO Shares

SAIC Looking To Buy GM IPO Shares

General Motors upcoming IPO is attracting a lot of attention, not least from Chinese car manufacturer SAIC. A long time partner of the General, SAIC is looking to buy a significant portion of GM’s IPO, and with nearly $6 billion in cash reserves, the company is in a good position to do so.

According to reports, the president of SAIC has recently visited America after GM posted its prospectus on November 3rd. GM is hoping to raise $10.6 billion through its IPO.

[Source: TTAC]

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