China's top carmaker SAIC plans pre-IPO make-over


By Edwin Chan SHANGHAI, Nov 27 (Reuters) - Shanghai Auto, General Motors' main partner in China, will create a shareholding firm to hold its car assets, revamping itself before a long-awaited IPO as it ponders a series of multi-billion dollar overseas forays. The plan, unveiled in an exchange filing on Saturday, offers a glimpse into Shanghai Automotive Industry (Group) Corp.'s (SAIC) preparations for a domestic or overseas share float that could raise as much as $2 billion in 2005 or ...

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