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The firm might generate $9.145 billion ($1.2 billion) through the sale of 297.4 million shares.
Chery stock will start trading on the exchange on September 25.
China International Capital Corp., Huatai Securities, and GF Securities are coordinating the IPO.
Established in 1997, Chery is projected to rank as the second-biggest passenger car manufacturer in China by sales in 2024, following BYD. It provides vehicles with internal combustion engines and electric options through brands like Exeed, Omoda, Jaecoo, and Jetour. In 2024, the company's revenue rose by 65% to reach 269.9 billion yuan ($37.9 billion), fueled by the introduction of new models and growth into international markets.
Chery intends to utilize the funds from the IPO to widen its model selection, enter international markets, and upgrade its manufacturing facilities.
source: reuters.com
Chery stock will start trading on the exchange on September 25.
China International Capital Corp., Huatai Securities, and GF Securities are coordinating the IPO.
Established in 1997, Chery is projected to rank as the second-biggest passenger car manufacturer in China by sales in 2024, following BYD. It provides vehicles with internal combustion engines and electric options through brands like Exeed, Omoda, Jaecoo, and Jetour. In 2024, the company's revenue rose by 65% to reach 269.9 billion yuan ($37.9 billion), fueled by the introduction of new models and growth into international markets.
Chery intends to utilize the funds from the IPO to widen its model selection, enter international markets, and upgrade its manufacturing facilities.
source: reuters.com
