Chery Automobile Co., Ltd. successfully launched its IPO on the Hong Kong Stock Exchange, raising approximately $1.35 billion to enhance its operations and global competitive position.
Information on the Target
Chery Automobile Co., Ltd. (stock code: 9973.HK) has successfully launched its initial public offering (IPO) on the main board of the Hong Kong Stock Exchange on September 25, 2025. The IPO, which included a base offering of approximately $1.174 billion and a potential total of $1.35 billion if the greenshoe option is fully exercised, marks one of the largest financing projects for a large-scale automotive enterprise in Hong Kong in nearly a decade. This event also constitutes the largest IPO in Anhui Province within the same timeframe.
This IPO stands out as the most significant since 2023 for companies that have raised funds via H-shares in Hong Kong outside of the A-share market. Chery Automobile has established itself as a leader in the global market, focusing on innovation-driven automotive solutions and the manufacturing of diverse passenger vehicle products. It aims to provide high-quality vehicles and excellent travel experiences to customers worldwide.
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Industry Overview in the Target’s Specific Country
The automotive industry in China has undergone substantial transformation in recent years, driven by technological advancements and a shifting consumer landscape. China remains one of the largest automotive markets globally,
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Disclosed details
Transaction Size: $1,174M
Enterprise Value: $1,350M