Brilliance China Automotive Holdings Limited Announces Proposed Public Offering

Brilliance China Automotive Holdings Limited, a leading manufacturer and distributor of minibuses in the People's Republic of China, has announced a proposed public offering of 8,000,000 shares of Common Stock. The company, which owns a 51% interest in Shenyang JinBei Passenger Vehicle Manufacturing Company, Ltd., a Sino-foreign joint venture enterprise, aims to raise new financing through this transaction. Merrill Lynch & Co. will act as the global coordinator and sole underwriter for the offering, with a registration statement filed with the Securities and Exchange Commission.

Key Takeaways:

• The proposed public offering involves 8,000,000 shares of Common Stock, which will be offered by Brilliance China Automotive Holdings Limited for new financing purposes.
• The company owns a 51% interest in Shenyang JinBei Passenger Vehicle Manufacturing Company, Ltd., a leading manufacturer and distributor of minibuses in China.
• Shenyang Automotive is a Sino-foreign joint venture enterprise established in 1991.
• Merrill Lynch & Co. will act as the global coordinator and sole underwriter for the transaction.
• The registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.
• The company was established in 1992 and is incorporated in Bermuda.

Statistics:

• 8,000,000 shares of Common Stock will be offered in the proposed public transaction.
• 51% of Shenyang JinBei Passenger Vehicle Manufacturing Company, Ltd. is owned by Brilliance China Automotive Holdings Limited.
• The company was established in 1992.
• The proposed transaction involves new financing for Brilliance China Automotive Holdings Limited.

Sources:

• PRNewswire, "Brilliance China Automotive Holdings Limited Announces Proposed Public Offering" (July 6, 1998)