SAIC considers overseas listing to cement position The carmaker may raise up to US$2b, but proceeds will depend on current market sentiment.

(From South China Morning Post)

Byline: Andrew K. Collier in Beijing

Shanghai Automotive Industries Corp is considering listing overseas to raise money for expansion and to solidify its dominant market position as competition intensifies.

Bankers estimate China's largest carmaker could raise between US$1 billion and $2 billion, valuing the company at about $10 billion. Actual proceeds will depend on market sentiment at the time.

Car listings have been languishing in recent months as investors fret over a possible emerging supply glut. Chinese vehicle stocks are down as much as 50 per cent since the beginning of the year.

A group …