Geely to issue $334M bonds, warrants to Goldman

• Source: Ce.cn
• [13:59 September 23 2009]
• Comments

Hangzhou-based Geely posted 35 percent sales growth in the first eight months of the year to 185,000 units, equivalent to 74 percent of its full-year target of 250,000.

Shares of Geely have nearly tripled this year to HK$1.79 before trading was suspended last Wednesday, beating a 51 percent gain on the broader market.

US billionaire Warren Buffett's Berkshire Hathaway Inc agreed to invest $230 million for about 10 percent of Chinese battery and electric car maker BYD Co Ltd last year.

The investment has realised a $1.8 billion paper profit for Buffett.