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Beiqi Foton Motor adjusts private placement plan

Monday, 18 Aug 2014 08:00pm EDT 

Beiqi Foton Motor Co Ltd:Amended its private placement plan of issuing up to 750 mln shares at no less than 5.34 yuan per share, for 4 billion yuan in total in private placement.New plan is to issue up to 570 mln new shares at no less than 5.34 yuan per share, for no more than 3 bln yuan in total in private placement.The proceeds raised will be used for capital injection in construction of commercial vehicle production base project, construction of multi-function car light project and supplement of working capital.