Chery's IPO: 1.2 Billion Dollar Revenue Targeted

Chery, one of the leading automobile manufacturers in China, is taking important steps to go public. The company aims to raise approximately 1.2 billion dollars through an initial public offering.

According to an official statement, 297.4 million shares are planned to be sold at a price range of 27.75 to 30.75 Hong Kong dollars (approximately 3.57 to 3.95 US dollars). This price range has been set to attract investor interest and provide a valuation that is in line with market dynamics.

Institutional investors participating in Chery's IPO include prominent names. International Investment Fund SPC, HHLR Advisors, Greenwoods Assets Management, Dajia Insurance Group, and battery maker Gotion High-Tech have all applied to purchase Class A shares totaling $587 million. This is considered a critical step for Chery to strengthen its market position.

In today's increasingly competitive automotive sector, Chery's IPO is part of the company's growth and development strategies. With this IPO, investors will have the chance to learn more about Chery's future goals. This is an important opportunity for those who closely follow the changes in the automotive sector.

Chery's IPO is not only a financial growth target, but also an effort to take a more active role in the international market. The company continues to attract attention with its innovations and new technologies in automobile production. It is stated that a large portion of the funds to be raised after the IPO will be directed towards R&D activities and increasing production capacity.

In short, Chery's listing on the stock exchange will be an important development not only for its own future, but also for the global automotive industry. The effects of the IPO are eagerly awaited by both investors and industry experts.