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BRILLIANCE CHINA AUTOMOTIVE HOLDINGS ANNOUNCES INITIAL PUBLIC OFFERING

BRILLIANCE CHINA AUTOMOTIVE HOLDINGS ANNOUNCES INITIAL PUBLIC OFFERING
 NEW YORK, Oct. 9 /PRNewswire/ -- Brilliance China Automotive Holdings Limited announced today the initial public offering of 5 million shares of common stock at $16 per share. The First Boston Corporation, Merrill Lynch & Co. and Salomon Brothers Inc are the lead managers of an underwriting syndicate offering the common stock to the public. The common stock while representing the first indirect interest in a China Enterprise to be listed on the New York Stock Exchange will trade under the symbol "CBA".
 Net proceeds to the company from the sale of common stock will be invested in Shenyang Automotive, which will use such funds to acquire additional production equipment, to construct warehouses and plants, and to assist in the technical upgrade of vehicle component manufacturers.
 Brilliance China Automotive Holdings Limited, was established in 1992 to own a 51 percent interest in Shenyang JinBei Passenger Vehicle Manufacturing Company, Ltd., a Sino-foreign equity joint venture enterprise established under the laws of the People's Republic of China and the leading minibus manufacturer in China (together with its predecessors, "Shenyang Automotive").
 Located in the industrial city of Shenyang, the capital of Liaoning Province in northeastern China, Shenyang Automotive manufacturers, assembles and sells minibuses throughout China. In 1991, Shenyang Automotive produced 11,778 minibuses, an estimated 40 percent of the 11-15 seat minibuses produced in China, and was the sole domestic producer of luxury minibuses in China.
 -0- 10/9/92
 /CONTACT: Joseph D. Fashano, vice president of The First Boston Corporation, 212-909-2107/
 (CBA) CO: Brilliance China Automotive Holdings ST: New York IN: AUT SU: OFR


TS -- NY017 -- 8250 10/09/92 10:01 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
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