Chery joins the barrage of Chinese firms going public in Hong Kong, where listing proceeds have soared to a four-year high. Zijin Gold International Co could soon follow, with the mining giant preparing an IPO in the city that may fetch more than US$3 billion, the biggest such deal in the world since May.
Chery Automobile Co is seeking to raise as much as HK$9.1 billion in a Hong Kong initial public offering, kicking off what’s shaping up to be a busy final stretch to the year for big listings in the financial hub.
China’s biggest car exporter is offering 297.4 million shares at HK$27.75 to HK$30.75 each, according to its listing document on Wednesday. Trading is set to begin Sept 25.
