BizChina

Beijing-based social networking site operator Renren Inc., formerly Oak Pacific Interactive, has amended its IPO filing with the U.S. Securities and Exchange Commission to raise its initial share price range to between USD 12 and USD 14 per American Depositary Share (ADS).

Renren expects to receive net proceeds of approximately USD 628.8 mln from this offering and the concurrent private placements, or USD 726.1 mln if the underwriters exercise in full their over-allotment option to purchase additional ADSs, after deducting underwriting discounts and commissions and estimated offering expenses payable by Renren, assuming an initial public offering price of USD 13.00 per ADS, the midpoint of the estimated initial public offering price range shown on the front cover page of this prospectus.

Loss-making Saab has veered toward collapse in recent weeks after running out of cash to pay its bills. Several suppliers stopped delivering parts, halting production at Saab's Trollhattan plant for most of last month.

Spyker Cars said on Tuesday Hawtai would invest 150 million euros ($222 million) in return for shares, providing funds that will enable Saab to pay overdue bills and resume production.

The move marks the second time a Chinese company has invested in a top Swedish car maker, and paves the way for the new Saab 9-3 model to be produced in China, starting in 2013.

Zhejiang Geely, the parent of Hong Kong-listed Geely Automobile Holdings (0175.HK), bought Saab's Swedish rival Volvo Cars from Ford Motor (F.N) last year for $1.3 billion in cash and a $200 million note issued to Ford.

India's Infosys Technologies Ltd. plans to invest $135 million over the years to build a new office in Shanghai, China, as the technology major seeks to strengthen its market share in outsourcing technology services.

"We will be one of the first global companies to set up a delivery center in Shanghai," Chief Executive S. Gopalakrishnan said during an analysts' conference call Monday.

The company's management was addressing analysts after unveiling a massive reorganization late last week that saw a non-Infosys founder--for the first time--named the chairman of the company and one of the co-founders named new chief executive.

Beijing Hainachuan Automotive Parts Co Ltd (Hainachuan) will acquire 100 percent of the stock of the Netherlands' Inalfa Roof Systems Group (IRS), China Business News reported Friday, citing an internal announcement from the Netherlands company's China office.

Beijing Automotive Industry Holding Co Ltd, which holds a 60 percent share in Hainachuan, will keep IRS's management team and its headquarters in the Netherlands, the newspaper reported.