ICBC, CICC Eying Car Maker's Share Sale
November 15, 2010, Monday
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Print Edition
Print Edition
THE Industrial and Commercial Bank of China, the country's biggest lender, and China International Capital Corp, a joint venture run primarily by Central Huijin Investment Ltd and Morgan Stanley, are said to be among banks helping General Motors with its initial public offering.
This is the first time Chinese state-owned banks have participated in a major United States-issued IPO, according to IPO tracking firm Dealogic. The banks are listed as co-managers in the offering, meaning they will sell a portion of the new shares.
Other foreign investors that are keen include several sovereign wealth funds in the Middle East and Asia. The Wall Street Journal said those funds could invest US$1 billion in GM's IPO this week.
This is the first time Chinese state-owned banks have participated in a major United States-issued IPO, according to IPO tracking firm Dealogic. The banks are listed as co-managers in the offering, meaning they will sell a portion of the new shares.
Other foreign investors that are keen include several sovereign wealth funds in the Middle East and Asia. The Wall Street Journal said those funds could invest US$1 billion in GM's IPO this week.
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