According to Bloomberg, people familiar with the matter revealed that the Chery Holding Group Co. has invited JPMORON Chase & Co., to help promote Chery Automobile’s plan to go to Hong Kong for the first public fundraising (IPO) plan next year, and raise funds for the first public offering (IPO). $ 100 million. People familiar with the matter said that Chery Automobile’s stock will be on sale in the second or third quarters of next year.
Bloomberg reported in October this year that Chery Holdings Group has chosen CICC, Guangfa Securities and Huatai International to arrange Chery Automobile’s potential listing next year. People familiar with the matter revealed that Chery Automobile may seek a valuation of more than 100 billion yuan (about $ 14 billion) in the IPO.
People familiar with the matter said that Chery Holding Group is still considering the potential plan for Chery Motors to go to Hong Kong’s IPO next year, of which details such as time, scale and valuation may change. At the same time, people familiar with the matter added that Chery Holdings Group is also considering inviting other banks to assist in arranging the stock sales of Chery Automobile.
In response to the above reports, a representative of Chery Holdings Group has not responded to the request of the comment, and JPMorgan Chase also refused to comment.
Chery Automobile is one of the largest car exporters in China and one of the few unlisted companies. Chery Automobile is an important asset of Chery Holding Group. Chery Holdings Group is also involved in financial services and real estate.
Chery Automobile website shows that the company was founded in 1997 and sold cars from brands such as Chery, Tiger Tigers and Erizer in China and overseas. The company has been seeking to expand its production facilities worldwide, including Europe. In Vietnam, the company’s goal is that its investment of 800 million US dollars can start large -scale production activities at the first stage by the end of 2025.