Geely gets nod to raise capital on Shanghai’s Nasdaq-like Star Market as carmaker remakes itself into tech company

//Geely gets nod to raise capital on Shanghai’s Nasdaq-like Star Market as carmaker remakes itself into tech company

Geely gets nod to raise capital on Shanghai’s Nasdaq-like Star Market as carmaker remakes itself into tech company

Geely Automobile Holdings, China’s largest private carmaker and owner of Volvo Cars, has obtained regulatory approval for a secondary listing on Shanghai’s Nasdaq-like exchange for start-ups, as it redefines itself as a technology company with its line-up of 10 electric cars by 2025.The Hangzhou-based carmaker aims to raise as much as 20 billion yuan (US$2.94 billion) on the Star Market to finance its development of new technologies and models, according to an announcement by the Shanghai Stock…

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By | 2020-09-28T22:45:15+00:00 September 28th, 2020|Technology|Comments Off on Geely gets nod to raise capital on Shanghai’s Nasdaq-like Star Market as carmaker remakes itself into tech company