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China's Guangzhou Auto plans 2008 IPO to raise up to 2 bln usd - report


Published : Thu, 14 Jun 2007 02:07
By : Agencies
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BEIJING (XFN-ASIA) - Guangzhou Automobile Group Co plans to seek a listing early next year of between 900 mln and 2 bln usd, with Hong Kong the preferred listing venue, the Wall Street Journal reported, citing people familiar with the situation.

A Shanghai listing could be added to the Hong Kong listing at some point, the newspaper cited one of the sources as saying.

Guangzhou Auto, one of China's 10 largest carmakers by volume sales, last month hired China International Capital Corp, JP Morgan Chase & Co, Lehman Brothers Holdings Inc and Morgan Stanley to underwrite the share offering.

andrew.pasek@xinhuafinance.com

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