Geely Automobile Holdings and its chairman are selling up to HK$1.1bn (US$141m) of shares at a discount of 4.8-8.3%, IFR Asia reported.

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The company was selling 570m shares and its chairman was selling 230m shares at HK$1.33-HK$1.38 each in a deal handled by JPMorgan and Macquarie Group, the unsourced report said.


Proceeds would be used to buy Drivetrain Systems International, which Geely agreed to acquire earlier this year, as well as for other acquisitions and general corporate use, IFR Asia said, according to Reuters.

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