OTHER NEWS - Oct. 7, 1992
From Times Staff and Wire Reports
Chinese Firm to Offer Stock in U.S.: Brilliance China Automotive Holdings Ltd. said it will become the first Chinese company ever to sell stock in the United States with an offering Thursday that may net up to $80 million. Brilliance China, which will be listed on the New York Stock Exchange, filed last month with the SEC to sell 5 million common shares at $14 to $16 a piece. The company owns 51% of Shenyang JinBei Passenger Vehicle Manufacturing Co., a maker of minibuses. In the first six months of this year, Shenyang Automotive reported earnings of $11 million on sales of $92.15 million. “China is clearly trying to take strides toward becoming a bigger player in the global economy,” said Richard Holton, a UC Berkeley business professor.
