Source: Company Disclosure, ChinaScope Financial (Data)
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GS Capital Partners VI Fund L.P., a private
equity fund owned by Goldman Sachs, is seeking to raise HKD 1.98 to 2.04
billion by selling 600 million Geely Automobile Holdings Ltd.’s (0175: HKG)
shares at a price range of HKD 3.30-HKD 3.40 per share. The price reflects a
discount of 5.0 to 7.8 percent to the Hong Kong-listed stock's yesterday
closing price of HKD 3.58.
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According to the latest announcement made by
Geely, it has been notified by GS Capital Partners VI Fund L.P. to convert
approximately HKD 873.88 million worth of convertible bonds (CBs) to a total of
470 million common shares at the conversion price of HKD 1.8583 apiece. In
addition, GS Capital Partners VI Fund L.P. transferred warrants into
approximately 299.53 million shares at a strike price of CNY 1.9816 apiece.
Thus, GS Capital Partners VI Fund L.P. has more than 700 million common shares
on hand.
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After Goldman launched the share sale plan,
Geely fell as much as 4.5 percent and closed at HKD 3.54 today, a 1.12 percent
loss.
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