China carmaker Great Wall to price IPO at discount

Newswire

By Daisy Ku HONG KONG, Nov 26 (Reuters) - Chinese truck and sport-utility vehicle maker Great Wall Automobile Holding plans to price its IPO, worth up to US$196 million, more cheaply than shares of other Hong Kong-listed carmakers, sources close to the deal said. Great Wall, which is expected to list in Hong Kong in mid-December, will price its initial public offering shares at 9.5-12.6 times forecast 2003 profits, sources said on Wednesday. That pricing would make its shares cheaper ...

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