Article: AVIC UNIT LAUNCHES PRIVATE PLACEMENT


AsiaInfo Services
02-20-2009
AVIC Unit Launches Private Placement

GUIZHOU, Feb 20, 2009 (SinoCast Daily Business Beat via COMTEX) -- Guizhou Liyuan Hydraulic Co., Ltd. (SHSE: 600765) kicked off a private placement to strategic investors on February 19, 2009.

According to previous approval issued by the China Securities Regulatory Commission (CSRC) for the deal, the hydraulic and pneumatic products manufacturer planned to offer new shares, whose number is between 80 million and 160 million, at CNY 8.87 apiece in 2008.

However, the issuance price hit CNY 10.5 apiece yesterday, signaling that strategic investors are bullish on the company's future operation.

It is the second additional offering ...

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