日韩午夜精品视频,欧美私密网站,国产一区二区三区四区,国产主播一区二区三区四区

Home / Business / Home Appliances Tools: Save | Print | E-mail | Most Read | Comment
Suning grows by selling shares
Adjust font size:

Suning Appliance Co will sell 200 million non-public shares to boost cash flow as well as speed up expansion of its branches.

The country's second-largest home appliance retailer said in a statement to the Shenzhen Stock Exchange over the weekend that it will raise around 2.8 billion yuan (US$410 million) in the private placement.

A total of 1.4 billion yuan will be spent on setting up 250 stores and another 1 billion yuan will go into building logistics bases in Chengdu, Wuxi, Chongqing, Tianjin and Xuzhou cities as well as the second phase of its logistics center in Beijing. The remaining 400 million yuan will be used to boost liquidity.

The shares will be sold to brokerages, insurers, qualified foreign institutional investors and other institutional or individual investors.

The private shares will be issued at not lower than 15 yuan each and Zhang Jindong, chairman of Suning, will also buy them for 250 million yuan to 350 million yuan.

"The macroeconomic situation and industry environment have provided a good opportunity for Suning to expand and we'll make use of the capital raised to boost our competitiveness," said Sun Weimin, president of Suning.

The opening of the new stores in Beijing and Shanghai as well as second and third-tier cities is likely to be done within 18 months and the retailer has forecast an annual sales increase of 18.1 billion yuan, the statement said.

Suning expects the home appliance market to grow, helped by government measures to stimulate domestic demand as well as the recovery of the economic situation in China, the statement said.

(Shanghai Daily June 22, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
- Suning admits to talks with Japan's Laox
- Suning bets big on rural expansion
- Suning to launch 2nd credit consumption promotion
- Suning to open Hong Kong stores
- Suning's net profit up 48% in 2008
June 7 Tokyo 2nd China-Japan High-Level Economic Dialogu

June 30 Shanghai 2009 Automotive Engine Technology Seminar

July 3-4 Beijing Global Think Tank Summit
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
主站蜘蛛池模板: 武邑县| 广河县| 防城港市| 当涂县| 新津县| 丹东市| 禹城市| 柯坪县| 大邑县| 广州市| 江阴市| 张家川| 会宁县| 浦城县| 通化市| 谢通门县| 湖北省| 杭锦旗| 磐安县| 永胜县| 梓潼县| 平邑县| 南木林县| 汤阴县| 连山| 济南市| 海淀区| 钟祥市| 双城市| 鄂伦春自治旗| 天祝| 建始县| 阿坝县| 四会市| 辉南县| 安图县| 金阳县| 那曲县| 扶沟县| 黑水县| 桃园县|