UPDATE 4-HK's Guorun expands car jv with China's Geely

Newswire

(Updates with closing share price, adds byline) By Katie Hunt HONG KONG, Sept 19 (Reuters) - Guorun Holdings Ltd , a Hong Kong investment firm, said on Friday it would spend 450 million yuan (US$54.3 million) to expand an auto-making joint venture with China's Geely Group to profit from a booming car market. The investment will be funded through a new share issue, but the deal is not the reverse takeover and back-door listing for Geely that some investors had hoped for. Guorun shares ...

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