Geely Board Withdraws Shanghai Star Board Listing Request
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Geely Automobile Holdings Ltd. has decided to withdraw its application for a proposed yuan share issue on Shanghai’s Nasdaq-style Star board, citing the “company’s business decisions and strategic adjustments,” according to a Hong Kong stock exchange filing Friday.
The decision not to proceed with the listing won’t have a material adverse impact on the financial position or operation of the group, China’s automaker said. Geely will “actively promote” a yuan share issuance “when relevant conditions are met,” according to the filing, which didn’t provide further details.