Chinese automaker Great Wall Motor (601633.SH) announced on Wednesday it will adjust the bottom offering price and quantity of its proposed private placement of A-shares, as it sent dividends to shareholders recently. The company will lower the bottom offering price of A-shares to be issued in the private placement from 43.41 yuan per share to 14.39 yuan per share and increase the quantity of A-shares involved from 276.43 million shares to 833.91 million shares.
The automaker announced earlier this year it will offer A-shares to no more than ten investors via a private placement to raise no more than 12 billion yuan, which will be invested in a new energy vehicle (NEV) research and development project, an annual 500,000-unit new energy smart transmission project, an annual 500,000-unit NEV electric motor and controller project, an annual one-million-set NEV power battery system project and a smart car research and development project.
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