Nod for share sale
By Jin Jing |
August 5, 2011, Friday
|
Print Edition
Print Edition
GREAT Wall Motor has won government approval for an initial public offering in Shanghai.
The green light from the China Securities Regulatory Commission will enable Great Wall to sell up to 304.2 million A shares to help raise about 3.17 billion yuan (US$493 million) to boost production capacity for engines, transmissions as well as other core spare parts.
The car maker will unveil its stock code and date for the subscription of new shares within three months. Great Wall is China's largest sport-utility vehicle producer.
The green light from the China Securities Regulatory Commission will enable Great Wall to sell up to 304.2 million A shares to help raise about 3.17 billion yuan (US$493 million) to boost production capacity for engines, transmissions as well as other core spare parts.
The car maker will unveil its stock code and date for the subscription of new shares within three months. Great Wall is China's largest sport-utility vehicle producer.
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