Weichai Power to boost capacity with IPO proceeds

Newswire

HONG KONG, Feb 18 (Reuters) - Weichai Power Co Ltd, a diesel engine maker that is raising up to HK$1.19 billion (US$152.56 million) from a Hong Kong initial public offering, plans to use proceeds from the deal to boost production capacity. The state-backed company, based in China's eastern Shandong province, plans to build a new production line that will increase capacity by 30,000 units a year, according to a preliminary listing document seen by Reuters on Wednesday. Weichai sold over ...

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