Stocks News
- Shanghai News
Date: 19-Mar-2007 Sources: (Shenzhen Daily)
SHANGHAI Zhenhua Port Machinery Co., the world's biggest maker of container cranes, plans to sell as many as 200 million new shares as part of plans to raise 3.5 billion yuan (US$450 million) to fund expansion.
The sale price won't be lower than the stock's average in the 20 trading days prior to the issue of the share prospectus, the company said in a statement to the Shanghai Stock Exchange Saturday. Shareholders will vote on the plan at an April 10 meeting.
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