Chinese automaker BAIC Motor, partly owned by Daimler AG, plans to raise up to $2 billion in a Hong Kong initial public offering in the second quarter of 2014, IFR reported, citing sources familiar with the plans. The company has added Citic Securities International , Deutsche Bank and HSBC to the roster of banks managing the deal after a pitching process for mandates last month, added IFR, a Thomson Reuters publication. BAIC Motor is the passenger car unit of state-owned Beijing Automotive Group (BAIC).The new banks would join Goldman Sachs and Morgan Stanley, which have been working on the deal since 2013.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.68% or $-0.22/share to $32.00. In the past year, the shares have traded as low as $20.16 and as high as $32.24. On average, 11506000 shares of MS exchange hands on a given day and today's volume is recorded at 21899846.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.37% or $0.14/share to $37.52. In the past year, the shares have traded as low as $29.33 and as high as $38.73. On average, 768808 shares of TRI exchange hands on a given day and today's volume is recorded at 435551.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.22% or $0.09/share to $41.00. In the past year, the shares have traded as low as $29.40 and as high as $41.13. On average, 938008 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 858201.
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