Chery Holding Group Co. has chosen China International Capital Corp., GF Securities Co., and Huatai International Ltd. to assist with a potential initial public offering (IPO) for its automotive unit.
It is reported that Chery Automobile Co. may pursue a listing in Hong Kong in the near future, with the goal of achieving a valuation of over 100 billion yuan, equivalent to approximately $14 billion.
The IPO is expected to generate significant interest in the market, reflecting the growing demand for electric vehicles and innovative automotive technologies. The involvement of well-known financial institutions highlights the strategic importance of this move for Chery as it seeks to expand its presence in the competitive automotive industry.