Baoxin Auto IPO Said to Raise About $415 Million in Hong Kong

Baoxin Auto Group Ltd., a luxury car dealer in China, sold $415 million of shares in an initial public offering in Hong Kong, according to two people with knowledge of the matter.

Baoxin sold 379.3 million shares in the offering at HK$8.50 apiece, the people said, asking not to be identified as the information is private. The company had offered the shares at HK$8.50 to HK$10.80 each, according to the offering prospectus. About 328.7 million shares sold were newly issued by the company, while 50.6 million were existing shares.

To contact the reporter on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net

To contact the editor responsible for this story: Mohammed Hadi at mhadi1@bloomberg.net

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