AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
(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 …