Reported 4 days ago
Chery Holding Group has appointed JPMorgan Chase to assist with a potential initial public offering for its automotive unit in Hong Kong, aiming to raise up to $1 billion. This comes as Chery seeks a valuation exceeding 100 billion yuan ($14 billion) and anticipates the share sale to occur in the second or third quarter of the next year. Notably, Chery Auto, a major car exporter in China, remains one of the few unlisted major companies in the industry.
Source: YAHOO