News Column

Guangzhou Automobile Offers A-share Convertible Bonds

June 24, 2014

GUANGZHOU, June 24, SinoCast -- Guangzhou Automobile Group Co., Ltd. (GAC; SHSE: 601238) declared plans to offer A-share convertible bonds not surpassing CNY 6 billion with a term of six years.

Existing A-share stockholders have priority for subscription. Financing will be used for updating Highlander, building Guangzhou plant of GAC Fiat Automobiles Co. Ltd. and replenishing working capital.

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Source: Sinocast Transportation Beat (China)

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