Tire manufacturer Double Coin invests 1.87 billion
A Chinese company engaged in the production of tire products has announced its intention to invest a vast sum of money in the development of several enterprises. In a press release issued by Double Coin employees, it is stated that the company plans to invest around $1.87 billion in the near future.
These funds will be used to create and develop 7 companies. So far, it has not been reported which specific enterprises have interested Double Coin's management to the extent that the Chinese are willing to part with 11.6 billion yuan. Most likely, these will be domestic investments.
Analysts at the Reuters agency note that the company, whose headquarters is located in Shanghai, will receive part of the investment funds by selling its shares. Recall that the sale of securities started on March 24, 2015.
These funds will be used to create and develop 7 companies. So far, it has not been reported which specific enterprises have interested Double Coin's management to the extent that the Chinese are willing to part with 11.6 billion yuan. Most likely, these will be domestic investments.
Analysts at the Reuters agency note that the company, whose headquarters is located in Shanghai, will receive part of the investment funds by selling its shares. Recall that the sale of securities started on March 24, 2015.