Trading in the shares of SAIC Motor Corp, China's top car maker, will remain suspended for another five working days from Monday, the company said in a filing with the Shanghai Stock Exchange. Trading in SAIC Motor has been halted since February 14 after its holding company, state-owned SAIC Group, said it was working on a major plan involving SAIC.
SAIC Motor manufactures Buick, Chevrolet, Cadillac and Volkswagen brands in China through tie-ups with General Motors and VW. "At present, the holding company is in active discussions with related departments. Relevant issues are under examination and great uncertainties exist," according to the filing on the SSE's website, www.sse.com.cn.
Chinese media reported a week ago that SAIC Group plans to inject additional assets into its listed subsidiaries as it finalises its move to float all of its auto-related operations.
Comments
Comments are closed for this article.