Great Wall Motors, a Chinese maker of sports utility vehicles and pick-up trucks, has announced that it wants to “choose a better time” for its planned Rmb3.17 billion $500 million share sale in the A-share market, citing the current volatility as a reason for delaying the deal.
The company, which is based in Baoding in northern China and listed in Hong Kong, said earlier this month that it would issue 304 million A-shares, or 10% of its enlarged share capital, to raise funds for expansion, according to an IPO prospectus filed to the China Securities Regulatory Commission CSRC.
The group, which has said it hopes to...
¬ Haymarket Media Limited. All rights reserved.
