By Prudence Ho
HONG KONG--BAIC Motor Corp, a Chinese car maker partly owned by
Daimler AG, is planning to start gauging investors' interest next
week in an initial public offering which could raise in between
US$1.2 billion and US$1.5 billion in Hong Kong, a person familiar
with the situation said Friday.
The Chinese state-backed car maker received listing approval
from the city's regulators Thursday and plans to take orders from
investors Dec. 8, the person said. The company plans to list in
Hong Kong on Dec. 18, the person said, adding the timetable is
preliminary and subject to market conditions.
BAIC Motor, which couldn't immediately be reached for comment,
will join CGN Power Co. in listing in Hong Kong. China's largest
nuclear power plant operator plans a US$3.16 billion listing on
Dec. 10.
HSBC Holdings PLC., Citic Securities International, Deutsche
Bank Group and UBS AG are leading the BAIC offering, according to
preliminary prospectus.
Write to Prudence Ho at prudence.ho@wsj.com
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