Great Wall Seeks Up to $2.7 Billion for New-Energy Cars
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Great Wall Motor Co., China’s largest sport utility vehicle maker, plans to raise as much as 16.8 billion yuan ($2.7 billion) in a private share placement to fund research and development of new-energy vehicles.
Great Wall’s board approved the proposal to issue as many as 387 million A shares in Shanghai at 43.41 yuan each to fewer than 10 securities investment and management companies, the company said in a statement to the Hong Kong stock exchange.