Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Goldman Sachs invests 2.59 bln HKD in China's Geely
+ -
18:50, September 23, 2009

 Related News
 Geely may tap PE fund
 Goldman fund to invest $250M in Geely: WSJ
 Geely capital raising move may fund Volvo buyout bid
 Geely Holdings Group's bid for Volvo confirmed
 Geely's Volvo procurement almost finalized
 Comment  Tell A Friend
 Print Format  Save Article
China's largest independent carmaker Geely Automobile Holdings Ltd announced Wednesday it will raise 2.59 billion Hong Kong dollars (334 million U.S. dollars) selling convertible bonds and warrants to a fund managed by Goldman Sachs Group Inc.

Geely's stock rose nearly 26 percent in Hong Kong trading at 2.25 Hong Kong dollars Wednesday morning, the highest in more than nine years. GS Capital Partners VI Fund LP (GSCP) will have 15.1 percent of Geely if it converts the bonds and exercises the warrants, says a statement from Geely.

Geely will use part of the fund for acquisitions.

The carmaker will work with GSCP to further strengthen financial management, operational efficiency and corporate governance practices, said Li Shufu, Geely's chairman.

Geely suspended transactions on Sept. 16 and restored them on Wednesday.

Source: Xinhua

  Your Message:   Most Commented:
Indian media stinks up public opinions
World's top ten most mysterious and horrible spots
Which country has the most beautiful women?
Baby alien found by Mexican farmer
How do India's middle school textbooks portray China?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved