Reuters (Shanghai) - Trading in the shares of China's top carmaker SAIC Motor Corp (600104.SS) will be suspended from February 14 pending a material corporate announcement, SAIC said on Friday.
SAIC, the Chinese partner of General Motors (GM.N) and Volkswagen (VOWG.DE), and owner of the MG Rover plant in Britain, said it has been notified by its holding company SAIC Group that it is working on a major plan involving SAIC and discussions over the proposal are continuing, it said in a filing with the Shanghai Stock Exchange.
SAIC said it expects to make an announcement regarding the plan in five trading days following the trade suspension.
SAIC's Shanghai-listed shares ended 0.44 percent higher on Friday ahead of the trade suspension announcement. The stock has risen 25 percent so far in 2011, compared with the 0.36 percent gain in the benchmark Shanghai Composite Index.
