Shanghai (Gasgoo)- According to a filing published on the Hong Kong Stock Exchange website on September 7, Chery Automobile Co., Ltd. has officially cleared its listing hearing, moving one step closer to a public offering in the city.
In a filing with the China Securities Regulatory Commission ("CSRC") dated August 27, Chery outlined plans to issue up to 698.9 million ordinary shares overseas for listing on the Hong Kong Stock Exchange's main board. In parallel, 18 existing shareholders intend to convert a combined 2.016 billion previously unlisted domestic shares into overseas-listed shares for trading on the Hong Kong market.
The listing hearing is a critical checkpoint in the IPO review process. People familiar with the matter indicated that Chery's preparations have been progressing smoothly. Once the overseas share issuance is completed, the automaker will be required to file the results with the CSRC within 15 working days.
Chery's path to the capital markets has been long. Since 2004, the company has made several unsuccessful attempts at an IPO. However, momentum shifted earlier this year when Chairman Yin Tongyue told executives at the group's 2025 strategy meeting in February that securing a "high-quality listing" was the company's top priority among four key initiatives, alongside brand building, global expansion, and reforms in management and corporate culture.
