Deals
Chinese Luxury Car Finance Firm Seeks $428 Million in Hong Kong IPO
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Shanghai Dongzheng Automotive Finance Co., which specializes in loans for luxury cars, is seeking to raise as much as $428 million in a Hong Kong initial public offering.
The financing unit of car dealer China Zhengtong Auto Services Holdings Ltd. is offering 533.3 million shares at HK$4.20 to HK$6.30 apiece, according to terms for the deal obtained by Bloomberg. The Chinese firm expects to price the offering March 19 and begin trading March 26, the terms show.