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Guizhou Tyre to finance 1bln yuan for Vietnam factory

Guizhou Tyre recently announced that the company plans to issue no more than 200 million shares to up to 35 appointed investors.

The company said that it plans to finance up to 1 billion yuan for its Vietnam project. The latter is designed to produce 1.2 million units of full-steel radial tyres every year.

One of 35 appointed investors is Guiyang Industrial and Commercial Investment Group, and would buy out no less than 43.5% of issued shares, which means the investment group would purchase at least 87 million shares.