China’s Guangzhou Auto plans up to RMB 6 billion A share convertibles

By Marisa Wong

Madison, Wis., June 23 – Guangzhou Automobile Group Co., Ltd. announced it plans to issue up to RMB 6 billion of A share convertible bonds.

The A share convertibles will have a term of not more than six years and will be offered at par.

Proceeds will be used toward the company’s projects and to supplement working capital.

The proposed bonds are subject to shareholders’ approval at an upcoming general meeting.

The Guangzhou, China-based investment holding company’s subsidiaries design, manufacture and sell vehicles and auto parts in mainland China and Hong Kong.

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