HONG KONG, May 20 (Reuters) - Geely Automobile Holdings said on Wednesday it would sell HK$769.5 million ($98.7 million) worth of new shares to its controlling shareholder, raising capital to fund acquisitions and for working capital.
The Chinese carmaker said it would sell 570 million new shares at HK$1.35 each to Proper Glory Holding Inc after the controlling shareholder completed sales of 800 million existing Geely shares at the same price to third-party investors.
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