Chery: Shares of the Largest Chinese car Exporter Rise by 11% at Hong Kong Stock Market Debut!

Chery Automobile has impressively made its move onto the international capital stage with its listing in Hong Kong. The shares opened with a strong gain of around 11%. With an issuance volume of approximately $1.2 billion and a valuation of just under $23 billion, the IPO ranks among the largest listings of the year in the Special Administrative Region. The IPO is closely linked to Chery's innovation agenda, with about 35% of the funds raised earmarked for research and development, and a further 25% for new vehicle generations. The aim is to accelerate...