Chery Holding Group plans to invite JPMorgan Chase to assist in its Hong Kong IPO next year

People familiar with the matter said that Chery Holding Group is still considering the potential plan of its Chery Automobile to go public in Hong Kong next year, and details such as timing, scale and valuation may change. At the same time, the group is also considering inviting other banks to help arrange stock sales. Chery Holding Group has invited JPMorgan Chase to help promote its Chery Automobile's Hong Kong initial public offering (IPO) plan next year, which is expected to raise up to US$1 billion. It is reported that the stock issuance may take place in the second or third quarter of next year. In October this year, Chery Holding Group has selected CICC, GF Securities and Huatai International to arrange the potential listing of its Chery Automobile next year.