Lifan goes public

Lifan Motors has become the first privately owned car maker in China to go public following the issuing of 200 million shares at a price of 14.5 yuan ($US2.18) by parent company Lifan Industry Group in Shanghai. Established in 1992, Lifan Motors produces a wide range of motorcycles, cars and drivelines. However, it is best known as the company behind the controversial Mini Cooper inspired Lifan 350.