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- Title
BAIC Motor Prepares For $2 Billion Hong Kong IPO.
- Abstract
The article reports on the plan of BAIC Motor, a subsidiary of the state-owned Beijing Auto Group and the Chinese partner of Daimler AG and Hyundai Motors Co., to go initial public offering (IPO) for $2 billion in Hong Kong, China. According to Reuters news, the IPO listing is expected to come as early as the second quarter of 2014. It states that the auto manufacturer plans to use the IPO to gain a larger share of the Chinese auto market and begin purchasing smaller automakers. It also relates the growth of the company, acquiring Zhenjiang Automobile in August 2013 and a small automaker in Jiangsu province.
- Subjects
CHINA; BAIC Motor Corp. Ltd.; BUSINESS planning; GOING public (Securities); CORPORATE finance; CORPORATE growth; MERGERS &; acquisitions; AUTOMOBILE industry
- Publication
China Business Review, 2014, p3
- ISSN
0163-7169
- Publication type
Article