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Great Wall Motor To Raise $619M

Great Wall Motor will raise $619 million from a share sale in Shanghai.

Great Wall Motor will raise $619 million from a share sale in Shanghai, Reuters reports. The biggest manufacturer of utility vehicles in China pegged the price at $2.04 a share.

The company is selling 304.2 million shares in the Shanghai offering. Guotai Junan Securities is lead underwriter for the share sale, proceeds of which will be used to expand its parts operations capacity.

Click here for the story from Reuters.

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