Brilliance China Automotive raises at most HK$462 mln to buy produce establishme

Reported by sources that Brilliance China Automotive Holdings (1114) would issue 140 mln new shares in a first-old-then-new way at HK$2.2 to raise HK$308 mln. Besides, the underwriter Credit Lyonnais had right to demand issue more 70 mln shares and thus made the raised capital increase to HK$462 mln, which is earmarked to buy produce establishments in German. The relevant capital expenditure was believed to produce the BMW type products.

It was said that the placement had required over-subscription, so Lyonnais did not promote it to the fund clients.

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