Chery Automobile announces its Hong Kong IPO plan

Chery Automobile's Hong Kong IPO plan has been clarified, consisting of two tranches: a "new share issuance" and a "trading of existing shares." The new share issuance involves the issuance of up to 699 million overseas-listed common shares. In the trading of existing shares, 18 existing shareholders plan to convert a total of 2.016 billion unlisted domestic shares they hold into overseas-listed shares and trade them on the Hong Kong Stock Exchange.