Beijing Auto's IPO plans
Source: Bloomberg News |
March 7, 2013, Thursday
|
Print Edition
Print Edition
BEIJING Automotive Group, which makes vehicles with Daimler AG and Hyundai Motor Co, will seek to sell shares in its car unit on the Chinese mainland after completing a Hong Kong initial public offering.
The Hong Kong IPO will take place by the end of this year "if it moves fast," Beijing Auto Chairman Xu Heyi said yesterday. "We will come back for an A-share listing after that."
The fundraising will help the company's aim of expanding vehicle sales by more than 70 percent by 2015.
The automaker may seek more than US$1 billion in the Hong Kong share sale, three people with knowledge of the matter said in January.
The Hong Kong IPO will take place by the end of this year "if it moves fast," Beijing Auto Chairman Xu Heyi said yesterday. "We will come back for an A-share listing after that."
The fundraising will help the company's aim of expanding vehicle sales by more than 70 percent by 2015.
The automaker may seek more than US$1 billion in the Hong Kong share sale, three people with knowledge of the matter said in January.
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