Sep 17, 2025 12:18 PM (GMT+8) · EqualOcean
On September 17, Chinese automaker Chery (奇瑞) filed for a Hong Kong listing, aiming to raise up to HKD 9.15 billion (about SGD 1.5 billion), which could make it the largest IPO on the Hong Kong Stock Exchange this year. The company plans to issue 297.4 million shares, priced between HKD 27.75 and HKD 30.75 each, with final pricing to be announced on September 24 and trading to begin on September 25. According to the prospectus, cornerstone investors have already subscribed to about USD 587 million (around SGD 750 million) worth of shares. Chery intends to allocate 35% of the proceeds to R&D for new passenger car models and 25% to next-generation vehicle development over the next three years.

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