French auto group Peugeot Citroen launches effort to raise 3 bil. euros with China firm's help
April 30, 2014, 12:01 am TWN
PARIS--French auto group Peugeot Citroen launched on Tuesday an effort to raise 3 billion euros under a recovery strategy involving Chinese firm Dongfeng as a shareholder, and its shares plunged 7.0 percent in initial trading.
The slice of the new shares available to ordinary shareholders was set at a discount of nearly 50 percent.
The price of shares in the group plunged by 7.40 percent to 12.06 euros in early trading. The total operation is intended to raise the equivalent of US$4.16 billion.