BIZCHINA / Biz Media Digest |
Auto: Two carmakers plan HK IPOs(Shanghai Daily)Updated: 2007-05-09 13:38 Beijing Automotive Industry Holding and Chongqing Chang'an Auto plan to raise US$1 billion each in initial share sales in Hong Kong, South China Morning Post reported, citing people that it didn't identify. Beijing Automotive, which runs ventures with DaimlerChrysler and Hyundai Motor, has hired Deutsche Bank to arrange the sale, Bloomberg quoted the Hong Kong-based English language newspaper as saying. Its venture with DaimlerChrysler boosted capacity by 105,000 cars a year after opening a plant in September, the paper said. Chongqing Chang'an Auto, a Sichuan-based carmaker traded in Shenzhen, has a venture with Ford Motor Co, the paper said. (For more biz stories, please visit Industry Updates) |
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