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Chery to Launch Hong Kong IPO Bookbuild on Sept 17, Targeting HK$140B Valuation
Chery Automobile plans to start its Hong Kong IPO bookbuild on September 17, targeting a valuation of HK$140 billion and aiming to raise US$1.5–2.0 billion. The funds will be used for expanding vehicle offerings, investing in technologies, and bolstering production. This marks Chery's latest attempt for an IPO after past failures, following a successful 2024 with 2.6 million vehicle sales.
Key points
- Chery Automobile opens IPO bookbuild in Hong Kong on September 17.
- Target valuation is HK$140 billion.
- Aims to raise US$1.5–2.0 billion for expansion and production upgrades.
- Chery sold 2.6 million vehicles in 2024, up 38% year-on-year.
- Company ranks as China's top passenger car exporter for 22 consecutive years.
- Chery's IPO efforts extend back to 2004, with prior attempts failing.
Why it matters
- The 2025 IT Trends focused on electric vehicles and smart manufacturing align with Chery's investment in next-generation technologies.
- Chery's IPO reflects the broader recovery and competitiveness of Chinese automakers in the global market.
- The push for public listing indicates a shift in market conditions favoring automotive investments post-pandemic.
Chery's IPO represents a significant step for the company, reflecting its growth and the evolving landscape of the Chinese automotive industry amid rising global demand.