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|06-04-2007, 11:44 AM||#1|
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China's Great Wall Motor seeks up to $202 mln in placement
By Amy Or
Last Update: 5:20 AM ET May 21, 2007
HONG KONG (MarketWatch) -- Hong Kong-listed Chinese carmaker Great Wall Motor Co. (2333.HK : 2333.HK
News , chart , profile , more
2333.HK0.00, 0.00, 0.0%) said Monday it is seeking to raise about US$202.1 million in a share placement.
The company said in a statement it will place 151.01 million new H-shares at HK$10.65 each, which will be 13.79% of the enlarged share capital. The pricing represents a discount of 8.51% to Thursday's closing price of HK$11.64, before its shares were suspended from trading.
The statement said proceeds from the placement will be used to finance projects including automobile and engine parts.
ABN Amro Rothschild and JPMorgan Chase & Co. (JPM : jp morgan chase & co com
JPM51.64, -0.26, -0.5%) are the joint bookrunners for the deal.
Great Wall has applied to resume trading of its shares on the Hong Kong bourse Monday.
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