Chery Is Said to Consider Hong Kong IPO for $7 Billion Auto Unit
- Chery Auto is one of China’s last few unlisted carmakers
- Carmaker may be valued at about 50 billion yuan in IPO
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Chery Holdings Co. is considering a Hong Kong initial public offering for its automotive unit that could value it at about 50 billion yuan ($7.1 billion), according to people familiar with the matter.
The group is seeking to hire banks for the potential IPO of Chery Automobile Co., the people said, asking not to be identified as the information isn’t public.