Wall Street Banks Said to Steer Clear of Chery’s $1.5 Billion Hong Kong IPO
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One of this year’s biggest listings is coming together in Hong Kong without the involvement of Wall Street banks.
Chery Automobile Co.’s planned Hong Kong initial public offering, which people familiar say could raise about $1.5 billion, is being led by an all-Chinese bank roster after others decided not to participate. JPMorgan Chase & Co. is no longer on the deal after being chosen by Chery in late 2024 to work on the offering, the people said.