Great Wall Motors has raised  CNY3.96bn (US$619m) through an initial public offering on the Shanghai Stock Exchange.

In a statement, the company said it issued 304.2m shares priced at CNY13 a share.

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The company is planning to use the money raised from the share sale to fund seven auto part projects.

The company plans to make a total investment CNY3.17bn in the seven projects.

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