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Guizhou Tyre raises 1 billion yuan for Vietnam tyre factory in private share issue

Author: Chris Anthony Comments: 0
Guizhou Tyre is best known for its Advance tyre brand (Photo: Guizhou Tyre)

On 4 September 2020 Guizhou Tyre Co. Ltd’s board of directors approved plans for a private share issue. The plan was to raise 1 billion yuan in funding via the sale of now more than 200 million shares to 35 selected investors. By 11 September, the company had received the green light from the state-funded Guiyang Industrial Investment Holding Group Co., Ltd. that it would purchase no less than 43.5 per cent of the issued shares.

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