Geely Auto set to become first carmaker to list on Shanghai’s Star Market as it seeks to raise US$2.9 billion

//Geely Auto set to become first carmaker to list on Shanghai’s Star Market as it seeks to raise US$2.9 billion

Geely Auto set to become first carmaker to list on Shanghai’s Star Market as it seeks to raise US$2.9 billion

Geely Automobile Holdings, the Chinese carmaker controlled by Volvo Cars owner Li Shufu, may raise as much as 20 billion yuan (US$2.9 billion) via a listing on Shanghai’s Star Market.The debut would represent the first for any carmaker on the bourse, a forum for hi-tech and innovative companies that started last year.Hangzhou-based Geely, which is already listed in Hong Kong, plans to use the money to help develop new technologies and vehicle models, as well as finance mergers and acquisitions…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-09-01T14:13:08+00:00 September 1st, 2020|Business|Comments Off on Geely Auto set to become first carmaker to list on Shanghai’s Star Market as it seeks to raise US$2.9 billion