China's Geely Automobile launches share placement of up to $859 million

HONG KONG/BEIJING (Reuters) - China's Geely Automobile Holdings Ltd has launched an$836 million-$859 million placement of 600 million new shares, according to a term sheet seen by Reuters.The shares are priced in the HK$10.80-$11.20 range, after 4.44%-7.85% discount to the last closing price of HK$11.72. There is a 90-day lock-up on the company, the term sheet showed.Geely declined to comment.Geely Automobile, based in the eastern province of Zhejiang, is China's most globally high-profile..