Aeolus Tyre plans $42m private placement for expansion

** Aeolus Tyre Co., Ltd. (SSE: 600469) has announced plans to issue shares to specific investors through a simplified procedure, targeting a fundraising total of 300 million RMB (approximately $42 million USD). The proceeds will be used to finance an expansion project focused on high-performance giant engineering radial tires. The placement, priced at 5.66 RMB per share, is expected to involve no more than 35 specific investors. This move aims to increase production scale and enhance competitiveness in the high-end tire market. The offering is still subject to regulatory approvals. Major investors are expected to include institutional powerhouses like Nordea Fund Management and China Galaxy Securities Asset Management.