By Devika Patel
Knoxville, Tenn., Dec. 2 - Brilliance China Automotive Holdings Ltd. said it will raise HK$565 million in a private placement of stock.
The company will sell 1,313,953,488 common shares at HK$0.43 each to Huachen, a controlling shareholder.
Proceeds will be used to reduce debt and for working capital.
Brilliance China Automotive is a Hong Kong-based maker of minibuses and automotive components for sale in China.
| Issuer: | Brilliance China Automotive Holdings Ltd.
|
| Issue: | Common shares
|
| Amount: | HK$565 million
|
| Shares: | 1,313,953,488
|
| Price: | HK$0.43
|
| Warrants: | No
|
| Investor: | Huachen
|
| Pricing date: | Dec. 1
|
| Stock symbol: | OTCBB: BCAHY
|
| Stock price: | $4.21 at close Dec. 1
|
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