SORL Auto Parts prices follow-on offering at $7.25/share

Newswire

Nov 27 (Reuters) - China's SORL Auto Parts Inc. on Monday priced its follow-on offering of about 4.3 million shares at $7.25 a share, a discount of over 12.5 percent to the stock's last closing price. Shares of the company, which closed at $8.30 Friday on the Nasdaq, fell more than 7 percent to $7.70 in morning trade. Net proceeds from the offering would be about $28.4 million, the company said in a statement. The proceeds will be used to fund capital expenditures including construction ...

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