China's BAIC Motor to raise $422m via share sale for working capital

China's BAIC Motor to raise $422m via share sale for working capital

FILE PHOTO: An assembly line producing electric vehicles (EV) is seen at a factory of Beijing Electric Vehicle, funded by Beijing Automotive Group (BAIC), in Beijing, China, January 18, 2016. REUTERS/Kim Kyung-Hoon/File Photo

BAIC Motor Corporation Ltd said on Wednesday it planned to sell new shares for HK$3.3 billion ($422 million) to replenish funds for working capital.

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