Sep. 11, 2012 (China Knowledge) - Guangzhou
Automobile Group Co Ltd<601238><2238>, a major automaker in South China, announced yesterday that it plans to raise up to RMB 6 billion through bond issue.
The company said in a statement that it plans to sell up to RMB 4 billion of corporate bonds and RMB 2 billion of convertible bonds.
The corporate bonds will have a maturity of not more than ten years. The convertible bonds will have a maturity of up to six years and could be converted into Shanghai-listed
A shares after six months of its issue.
Guangzhou Auto said last month that its net profit fell 15.15% YoY to RMB 1.48 billion in the first half of this year.