SAIC Motor Corp (600104.SS) is still deciding whether or not to participate in General Motors Co [GM.UL] increased initial public offering, the China Securities Journal reported on Thursday quoting industry sources.
The Chinese car maker is expected to announce the outcome later on Thursday when General Motors (GM.N) makes its trading debut in New York and Toronto, the Securities Journal said.
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 the proposed range in response to huge investor demand. [ID:nN17233785]
GM sold 478 million common shares at $33 each, raising $15.77 billion, as well as $4.35 billion in preferred shares, more than the initially planned $4 billion.
One of the open questions was whether GM's China partner, state-owned SAIC Motor Corp, was able to move beyond a last-minute regulatory hurdle that threatened its plans to take a 1 percent stake in GM.
