Cars
China's Jianghuai to raise up to $426m in offering
Updated: 2011-03-18 17:36
(Agencies)
SHANGHAI - Chinese carmaker Jianghuai Automobile Co plans to raise a maximum of 2.8 billion yuan ($426 million) through the issue of new shares, the company said on Friday.
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The firm said the money would also go towards supporting its plans to lift the annual production of its high-end gasoline engines to 200,000 units.
The company said its 2010 net profit surged 243.8 percent from a year ago to 1.18 billion yuan.
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