SAIC's request to list most of its assets gains official approval

Gasgoo.com (Shanghai December 31) - The China Securities Regulatory Commission has approved SAIC Group's request to list A-shares for the entire company, the Beijing Times reported. SAIC is one of the largest companies to restructure its shares this year.

The value of the assets targeted totaled 29.12 billion yuan ($4.58b). The restructuring saw SAIC Motor acquiring SAIC Group's auto part and other businesses by privately issuing shares to the company. SAIC originally filed the request in February. Now that the request has been granted, the amount of SAIC's assets that are securitized has increased from 81.15 percent to 99.34 percent.