Prince Alwaleed Bin Talal invested $500 million in the automaker’s initial public stock offering.
The Saudi prince’s stake is about the same size as SAIC Motor Corp. - GM’s partner in China, which acquired 0.97% of GM when the U.S. Treasury sold about 358 million shares of the automaker for $33 each.
The investment, held by the prince amounts to a stake of aprox 1 per cent. The US government sold close to half its shares in the IPO but remains GM’s biggest shareholder, with 33 per cent.
Read Article