New-Energy Vehicle Firm Lifan Aims to Raise $390 Million
A Lifan X70 SUV is displayed at the Shanghai International Automobile Industry Exhibition in April 2015. Photo: IC
Chinese automobile manufacturer Lifan Passenger Vehicle Co. Ltd. is planning a share issuance to raise 2.48 billion yuan ($390 million) to charge up the development of its products and charging network.
The issuance will target no more than 10 domestic and foreign institutional investors, including investment funds and insurance companies, the Shanghai-listed company said in a filing (link in Chinese) to the city’s bourse Monday.
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