Great Wall Motors, the makers of the excellent looking Great Wall Hover CUV and a whole host of other SUV’s, pick up trucks, and now little hatchbacks is planning to hit the stock market hard later this year via an IPO in the A-share market.
GWM hope to raise 2.7 billion RMB from the IPO, which will be spent as followed:
- 530 million into an automatic transmission
- 156 million into diesel engine technology
- 743 million spent on creating a new technology center (!)
- 363 million will go towards researching a high end SUV
- 381 million will be spent on R&D for a C class Great Wall sedan
- 580 million will go towards a vehicle testing center
At the moment, Great Wall SUV sales account for an amazing 17% of all SUV sales on the Chinese mainland.
Great Wall has IPO’d before on the Hong Kong stock market, raising 1.8 billion HKD in its first public offering, Great Wall then raised 1.6 billion HKD in May 07 via a second offering, funds from both offerings went towards building overseas assembly plants and factories.
Keep on going, Great Wall!
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