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The Shanghai Automotive (600104) private placement and the overall listing of the company and its plan have been approved by the China Securities Regulatory Commission, which is also the first domestic listed company. The company will issue 3.275 billion shares to the automaker at a release price of 5.82 yuan per share. The proposed core assets worth of 21.203 billion yuan will include equity in all vehicle companies owned by SAIC. After the transaction, the company will have a wide range of passenger car and commercial vehicle products and become one of the largest car manufacturers and passenger car manufacturers in China.
With the overall listing of the SAIC Group, industry researchers believe that it is likely to drive the overall market listing of the automotive industry. Take the iron and steel industry as an example. In recent years, the market has seen a wave of overall listing of steel companies. In recent years, the automobile companies that have proposed the overall listing have already had Dongfeng Automobile, Changan Automobile and so on.
View related topics: SAIC commercial vehicle expansion
SAIC's overall listing pulls the top spot in the industry