Others News
- GD Power offering may raise US$932m
Date: 11-Oct-2007 Sources: (Shenzhen Daily)
GD Power Development Co. said yesterday it could raise as much as 7 billion yuan (US$932 million) through a public offering of up to 400 million new shares.
The company priced the offer, equivalent to about 16 percent of its existing share capital, at 17.52 yuan per share, its average market price in the past 20 trading days. That represents an 11.5 percent discount to its last close of 19.79 yuan. Subscriptions will be taken Friday. The company plans to split the offer evenly between retail and institutional tranches, though the ratio may be adjusted depending on demand.
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