Navigation
Shop For Cars

Beautiful Cars Are Only A Click Away

Shop For Cars

Beijing Benz and Chang’an Motors to IPO in Hong Kong

In 2018 China Car Times was acquired by Autowise. This article originally appeared on ChinaCarTimes.com.

Hold on to your IPO hats both parties are after a slice of foreign money, foreign money that they cant get hold of via the Chinese mainland markets.

BEIJING Automotive Industry Holding and Chongqing Changan Auto plan to raise US$1 billion each in initial share sales in Hong Kong, South China Morning Post reported, citing people that it didnt identify.

Beijing Automotive, which runs ventures with DaimlerChrysler and Hyundai Motor, has hired Deutsche Bank to arrange the sale, Bloomberg quoted the Hong Kong-based English language newspaper as saying. Its venture with DaimlerChrysler boosted capacity by 105,000 cars a year after opening a plant in September, the paper said.

Chongqing Changan Auto, a Sichuan-based carmaker traded in Shenzhen, has a venture with Ford Motor Co, the paper said.

Better call my broker!

Categories:

About

© Copyright 2010 - 2018 AutoWise. All rights reserved.

Follow Gear Heads on Facebook or the latest updates!
Follow Gear Heads on Facebook or the latest updates!
Skip to toolbar