SYNDICATED NEWS
PHOTO CAPTION: GM corporate headquarters tower in downtown Detroit, Michigan

GM Eyes Asian Partners for IPO

Move seen as strategic thrust to remold company as truly multinational.

Published: 21-Aug-2010

General Motors Co (GM.UL) considered an Asian exchange for its historic return to the public markets, but ruled it out because it would have delayed the IPO, people familiar with the matter said.

GM, which filed plans for a dual listing in New York and Toronto this week, as recently as several weeks ago was also considering listing in Hong Kong to highlight its growing focus on China -- now the world's largest car market -- and to attract the region's growing pool of investors, the sources said.

That plan was ultimately scrapped because a Hong Kong listing would have pushed GM's IPO beyond its targeted debut between late October and the U.S. Thanksgiving holiday, sources said, asking not to be named because the preparations for the IPO are not public.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

Chevy Cruze EVs bveing developed in Korea.

Cruze EV is equipped with 31kW battery, giving car range of up to 160km with 0-60 acceleration of 8.2 seconds.

Center of the storm: Voltec's transmission. Does it actually drive the wheels?

Detroit Free Press columnist jumps into the debate on whether or not the Chevrolet Volt is really an 'electric car.'

One of many pre-production Chevy Volts used during media preview event.

Detroit News columnist John McCormick evaluates the merits of the Chevy Volt and Nissan LEAF.

READER COMMENTS

blog comments powered by Disqus