Jiangsu General raises funds for Cambodia factory
In January 2022, the foundation stone laying ceremony of the Jiangsu General Cambodia factory was held. The Cambodia factory is Jiangsu General’s second overseas factory. The tyre maker’s Thailand base already has a production capacity of 1 million all-steel radial tyres and 6 million semi-steel radial tyres. (Photo: Jiangsu General)
On 12 August, Jiangsu General stated that it would issue shares on the Shanghai Stock Exchange in a non-public funding initiative. The stock issuance plan shows that Jiangsu General is prepared to issue shares to no more than 35 specific investors. The number of shares to be issued shall not exceed 386,578,320 units, which is 30 per cent of Jiangsu General’s total share capital before the issuance of shares. The total amount of funds raised does not exceed 1.018 billion yuan (£124.42 million, 147.15 million euros). It is reported that HOdo Group, the controlling shareholder of Jiangsu General, plans to subscribe for shares in cash, with a subscription amount of not less than 30 million yuan (£3.67 million, 4.34 million euros) and not more than 200 million yuan (£24.45 million, 28.91 million euros).
Xuda Wang
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