Triangle Tyre to raise funds through IPO

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Corporate developments

Chinese tire-maker plans production base outside China

Chinese tire company Triangle Tyre plans to raise CNY4.4 billion (USD673.7 million) in an IPO on the Shanghai stock exchange, the company says in a filing. Reuters adds that the company aims to raise up to 200 million shares at CNY22.07 (USD3.30) a share in the Shanghai IPO.

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