August 3 – SAIC Motor Corporation (600104) was approved by the China Securities Regulatory Commission to carry out an asset restructuring, reports yicai.com, citing a company filing. Specifically, the Shanghai-based firm will issue 1.76 billion shares to SAIC Group at 16.53 yuan per share to acquire its service trading, component manufacturing, and new energy automobile businesses.

The assets are worth a total of 29.12 billion yuan, the source said.

Source:capitalvue