(Reuters) - Suning said it planned a nationwide expansion with 250 new outlets in the next 18 months as it goes head-to-head with main rival GOME Electrical Appliances Holding Ltd. , which said last week it would open 170 stores in 2007.
Suning will issue up to 73 million A shares, or just under 5 percent of its enlarged capital, to selected investors at a price of no less than 33.30 yuan per share, it said in a statement at the weekend.
Read more at Reuters.com Mergers News
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