Chery Auto revives initial offer plans

• Source: Xinhua
• [08:20 July 23 2009]
• Comments

Last week, China's privately owned battery and automobile maker BYD Co said it was planning to raise capital for new projects through issuance of as many as 100 million A shares on the Shenzhen Stock Exchange, Reuters reported.

The Shenzhen-based company filed for a 58.5-million A shares listing in Shenzhen or Shanghai in January last year but later postponed the move due to the weak market conditions.

However, analysts said, it might take time for Chery and BYD to go public as many domestic automakers such as FAW Group Corp and Guangzhou Automobile Group Corp were still queuing up for a full listing.