News Column

China Grand Auto Okayed for Hong Kong Listing

June 6, 2014

HONG KONG, June 6, SinoCast -- Market information said that Chinese top passenger car seller China Grand Auto has gotten approval from the Hong Kong bourse for local listing, financing USD 700 million or HKD 5.43 billion. The company will get feedback from investors in the future two months. Texas Pacific Group (TPG) is one of its shareholders.

By the end of 2013, the company had had more than 400 sales outlets nationwide, covering over 20 provinces and municipalities, having more than 2 million customers. In 2012 full year, turnover reached CNY 72.6 billion.

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Source: Sinocast Transportation Beat (China)

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