China's Dongfeng raises US$509 mln in IPO priced at mid-range

Newswire

(To read a new, expanded Hong Kong IPO diary, click on ) HONG KONG, Nov 30 (Reuters) - China's number-three automaker, Dongfeng Motor Group Co. Ltd. raised HK$3.97 billion (US$508.9 million) after setting its IPO price at HK$1.60 each, the middle of a proposed range, a source said on Wednesday. The company, based in Hubei province, sold 2.48 billion shares which represents 30 percent of its enlarged share capital. (US$=HK$7.8)

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