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China's Dongfeng Auto to improve offer to 3.3 bonus shares per 10 shares held

Friday, October 13, 2006; Posted: 02:11 AM

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BEIJING, Oct 13, 2006 (XFN-ASIA via COMTEX) -- Dongfeng Automobile Co Ltd (SHA 600006) said it will improve its offer to 3.3 bonus shares per 10 shares held by shareholders under its state share reform plan.
The company earlier offered 3.1 bonus shares.
Listed companies typically offer bonus shares to holders of tradable shares in exchange for the right to dispose of non-tradable state holdings.
The company said shareholders will vote on the plan online on Oct 26, 27 and 30. Trading in Dongfeng's shares has been suspended since Sept 25 and will resume on Oct 16 at the latest.
Dongfeng Auto has joint ventures with Peugeot-Citroen and Honda Motor Co and is 24.5 pct-owned by Dongfeng Motor Corp, China's third largest automotive group. ALERT/456531/
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