Chery Automobile aims to raise up to HK$9.1 billion (US$1.2 billion) in a Hong Kong IPO, offering 297.4 million shares at HK$27.75 (US$3.57) to HK$30.75 (US$3.95) each.

Trading is expected to start on September 25, and the IPO does not include additional shares that may be offered if demand rises.

The company plans to use the funds for research and development, international expansion, and factory improvements.

Chery’s listing is managed by China International Capital Corp., Huatai Securities, GF Securities, and Citic Securities, with no Wall Street banks involved.

The IPO comes as Hong Kong sees a rise in large deals from Chinese firms.

🔗 Source: Bloomberg

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