Motor Vehicles and Parts News
- Changan Auto seeks US$1b IPO
Date: 9-May-2007 Sources: (Shenzhen Daily)
CHANGAN Auto, China's fourth largest carmaker, plans to raise US$500 million to US$1 billion in an initial public offering (IPO) by the end of this year, probably in Hong Kong, a person familiar with the matter said yesterday.
Changan Auto has hired Citigroup and Goldman Sachs to handle the offering, which is still in the early planning stages, the source said. Changan Auto has partnered with U.S. carmaker Ford Motor Co. and is the country's largest manufacturer of mini-vans. Changan Auto is already listed on the Shenzhen Stock Exchange.
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