It is reported that Great Wall Motor plans to issue 304 million A-shares, accounting for 10% of its post-IPO total equity and raising as much as CNY 3.17 billion.

Proceeds will be invested into the production of engines, transmissions and axles. Great Wall which mainly researches produces and sells cars and components is capable of producing 400,000 SUVs, cars and pickup trucks annually.

The company has kept first spot in terms of sales volume of pickup trucks, market share and export volume for 13 years in a row. The firm sold some 75,000 pickup trucks and 99,000 pickups in 2009 and 2010 respectively.

In 2010, the firm had a 27.1% share of the pickup market. It sold 44,000, 58,000 and 137,000 SUVs in 2008, 2009 and 2010 respectively at a compound growth rate of 76.5%. In 2010, the firm had 11.3% share of the market for SUVs, its core product.

(Sourced from Shanghai Securities News)