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Beiqi Foton Motor to raise 2.5B yuan in placement
Beiqi Foton Motor Co. plans to raise as much as 2.5 billion yuan via the private placement of as many as 160 million shares, according to a filing to Shanghai’s stock exchange. The company will sell the shares at 17.76 yuan each, according to the statement. Beiqi will use the money to fund heavy truck projects, it said.
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