Chery going for the double IPO
Its being reported by the Chinese state propaganda machine, broadcasters that Chery is going to go for IPO in both Hong Kong and the Chinese mainland. No details are currently available as to the size of the IPO, weve just been told it will happen, complete with a potential share offering.
Better keep any money Santa gives you to one side for some Chery stocks. They are planning to ramp up production from 300,000 units per year to over 600,000 units by 2008, with plans to export to more countries such as Indonesia and various Middle Eastern countries.