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Geely raises $836 million through shares sale

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Hong Kong-based automaker Geely has raised HK$6.48 billion ($836 million) through a share sale.

In a statement issued, Geely said, “The company has raised HK$6.48 billion (approximately $836 million) through the sale of 600 million primary shares at the bottom of the price range at HK$10.80 – HK$11.20 or at a 7.85% discount to the last closing price of HK$11.72.”

“The offering represents about 6.1 percent of its enlarged share capital, the company plans to use the amount to support its business development and general growth,” the statement said.

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