China’s Chery Automobile Shares Set to Rise 11.2% in Hong Kong Trading Debut
- Chery Automobile, China's biggest car exporter, rose 11.2% in its trading debut on the Hong Kong Stock Exchange after raising HK$9.1 billion in an IPO.
- The company aims to invest IPO proceeds into research, development, and expanding its product portfolio.
- Chery delivered 1.14 million vehicles to foreign markets in 2024, focusing on regions like Russia and the Middle East.
- Chery's debut was impacted by Super Typhoon Ragasa, leading to the cancellation of its listing ceremony.
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17 Articles
Chinese state carmaker Chery jumps 11% in Hong Kong debut
HONG KONG -- Chinese state-owned carmaker Chery Automobile surged 11.2% in its debut on the Hong Kong Exchange Thursday morning, after the company skipped a listing ceremony due to disruptions brought by Typhoon Ragasa. Typhoon dampens the party but city's IPO market stays hot A woman looks at a…
China’s Chery Automobile shares set to rise 11.2% in Hong Kong trading debut
SYDNEY (Reuters) -Shares of Chinese car maker Chery Automobile are set to rise 11.2% as the company starts trading on Thursday on the Hong Kong Stock Exchange following its $1.2 billion initial public offering (IPO). (Reporting by Donny Kwok and Scott Murdoch; Editing by Muralikumar Anantharaman)
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