Goldman Sachs Raising up to US$315 Million via Geely Automobile Share Sale - Term Sheet
By Prudence Ho
HONG KONG--Goldman Sachs Group Inc. (GS) is raising up to US$315 million by selling shares in Geely Automobile Holdings (0175.HK), according to a term sheet seen by Wall Street Journal Tuesday.
Goldman Sachs Principal Investment Area, a unit of Goldman Sachs, is selling 578 million Geely shares in a range of HK$4.10-HK$4.23 each, the term sheet showed, representing a 4.08%-7.03% discount to Geely's Tuesday closing price of HK$ 4.41.
Goldman, which is the sole bookrunner for the transaction, won't own any Geely shares after the completion of the sale, the term sheet said.
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