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English > Industry&Companies > Industry-Breaking News>Shanghai Bashi Reshuffle Plan Approved

Shanghai Bashi Reshuffle Plan Approved

01-05 17:29 Caijing Magazine

Full article in Chinese: http://www.caijing.com.cn/2009-01-04/110044771.html

- Shanghai Bashi Industrial (Group) Co said its plan to sell assets and issue shares has been approved by the securities regulator.

- Under the reshuffle, SAIC will hold a 60.1 percent stake in Shanghai Bashi and inject its auto part assets into Shanghai Bashi, making it a listing vehicle for SAIC.

- Shanghai Bashi plans to announce the details late on January 5.

 

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