BOSCH, a German industrial giant, plans a series of investments in China, including purchase of a direct, six per cent stake in fuel-injection equipment maker Wuxi Weifu. In conjunction with state-controlled Weifu it also will take a 26 per cent share in a fuel-injection project for diesel cars, and a 50 per cent stake in a major project to manufacture equipment for petrol-powered cars. A Weifu official said yesterday the company planned to issue 68 million new B shares at HK$2.46 a share, raising HK$167.28 million before expenses. The shares are priced at 6.5 times its 1995 forecast earnings of 74 million yuan (HK$68.89 million), or earnings per share of 40.5 yuan. The B shares would be listed in Shenzhen, and represent a total of about 37 per cent of Weifu's enlarged share capital of 183.43 million shares after the listing of the issue. 'The board has agreed to Bosch taking a six per cent stake in our company by buying 16 per cent of our new B shares to be issued,' the official said. Weifu has a long historic link with Bosch, having worked with the German giant for 10 years on technology transfer. The German firm will take about 10.88 million of Weifu's new B shares, costing it HK$26.7 million. Shenzhen-based J and A Securities is lead underwriting the share issue, with Smith New Court and Rothschild as international co-ordinators. The Bosch deal is the latest involving share buyout by foreign firms. It follows plans by Japan's Isuzu Motors and Itochu Corp to buy into Beijing car makers, and by Ford Motors Corp to tie up with Jiangling Motors. Part of the proceeds from the share issue will fund a project to make fuel-injection equipment mainly for use by cars using diesel-fuelled motors. Bosch and Japanese car-parts maker Zexel Corp also are involved in the deal, involving total investment of US$29.7 million. Weifu will have 48 per cent of the project, and Bosch and Zexel 26 per cent each. 'Production is expected to be in place by the end of the year, with products coming on stream next year,' the official said. Part of issue proceeds also will be used to fund preliminary work on a state-level project to manufacture fuel-injection equipment for cars using petrol, involving investment of 2.8 billion yuan. Weifu will team with the Shanghai Automotive Works, one of China's top trio of vehicle conglomerates, and other Chinese partners to own 50 per cent of that venture, leaving Bosch with the other 50 per cent. After the issue, Weifu will be owned 51 per cent by the state, 37 per cent by foreigners and 12 per cent by employees and other legal persons shares. It has not issued A shares. Weifu's B shares will list on the Shenzhen stock exchange on September 18, subject to the listing being fitted into the exchange's schedule.