Guangzhou Automobile Group, China's sixth-largest automaker and the Chinese partner of Honda, Toyota and Fiat, was publicly listed on the Hong Kong Stock Exchange on 30 August, according to local media reports.
After completing a buyout of its affiliate, Hong Kong-listed Denway Motors, GAC started trading 22bn new shares under its own name. Its shares, which opened at HK$9, reversed losses to close at HK$9.19.
The listing in Hong Kong will enable GAC to have direct access to international investors for funding to support several new models under its own brand name, Trumpche.
After completing a buyout of its affiliate, Hong Kong-listed Denway Motors, GAC started trading 22bn new shares under its own name. Its shares, which opened at HK$9, reversed losses to close at HK$9.19.
The listing in Hong Kong will enable GAC to have direct access to international investors for funding to support several new models under its own brand name, Trumpche.
Source: www.just-auto.com
