(Reuters) – Chinese automaker Chery Automobile launched a Hong Kong initial public offering on Wednesday to raise as much as HK$9.15 billion ($1.18 billion), according to its prospectus.
The company is offering 297.4 million H-shares at up to HK$30.75 each. Final pricing is slated for September 24, with trading expected to begin September 25.
Chery, best known for its Chery, Jetour and iCAR brands, is seeking to tap investor appetite as it expands in the competitive electric and smart vehicle market.
($1 = 7.7805 Hong Kong dollars)
(Reporting by Kumar Tanishk in Bengaluru; Editing by Alan Barona)
