Phoenix to raise US$40m

PUBLISHED : Monday, 08 November, 1993, 12:00am
UPDATED : Monday, 08 November, 1993, 12:00am

SHANGHAI Phoenix Bicycle is to raise about US$40.5 million when it lists this month.


According to Reuter, the 100 million B shares are to go on offer at 40.5 US cents. The float represents about 28.5 per cent of the company's enlarged issued capital. Placing to institutions is expected to wind up today.