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Wonder Auto raises $59.2M in public offering
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Chinese auto supplier Wonder Auto Technology Inc. said Monday it raised net proceeds of about $59.2 million in a follow-on public offering of 6 million shares.
The company said it plans to use the money for general corporate purposes such as expanding the capacity of its facilities and investing in new businesses, products and technologies.
Wonder Auto offered the shares at a public offering price of $10.75 per share. It granted the underwriters a 30-day option to buy up to 900,000 more shares.
Piper Jaffray & Co., Jefferies & Co. and Oppenheimer & Co. acted as joint bookrunning managers. Roth Capital Partners acted as a co-manager.
In afternoon trading, U.S.-traded shares of Wonder Auto rose 18 cents to $11.42.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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