October 18, 2011 - Shanghai, China - The application for the issuance of corporate bond submitted by Pang Da Automobile Trade Co., Ltd. ("Pang Da Automobile")(Stock Code: 601258) was passed and approved by the Securities Public Offering Examination and Approval Committee of China Securities Regulatory Commission ("CSRC") on October 14, 2011.

Pang Da Automobile intends to offer not more than RMB 3.8 billion from the issuance of corporate bond, partially for the repayment of bank loan and the remaining to supplement the company's liquid capital. Haitong International Securities Group Ltd. and UBS Securities Co., Ltd. acted as co-lead underwriters of the said deal.

Grandall Shanghai Office has been retained as the Underwriters' Counsel, The project is led by Mr. SUN Li and Mr. TANG Yinfeng, attorneys of Grandall.

Click here to find out more: Pang Da Automobile Trade Co., Ltd.