The Wall Street Journal

Chery Seeks to Raise Up to $1.2 Billion in Hong Kong IPO

The Chinese automaker plans to start trading on the Hong Kong stock exchange on Sept. 25

Chery Automobile plans to use the proceeds from the IPO to expand its passenger vehicle portfolio, grow overseas markets and upgrade its production facilities.
Chery Automobile plans to use the proceeds from the IPO to expand its passenger vehicle portfolio, grow overseas markets and upgrade its production facilities. Photo: go nakamura/Reuters

Chery Automobile plans to raise up to US$1.2 billion through an initial public offering, joining a wave of companies rushing to list in what is shaping up to be one of the busiest years for Hong Kong’s stock exchange.

The Anhui, China-based automaker plans to raise as much as 9.145 billion Hong Kong dollars by issuing 297.4 million shares, it said in an exchange filing Wednesday.

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