Chery Auto Raises US$1.2B in Hong Kong’s Largest Carmaker IPO of 2025
Chery Automobile, recognized as China’s largest passenger car exporter, successfully listed on the Hong Kong Stock Exchange on September 25. The initial public offering raised HK$9.1 billion (approximately US$1.2 billion), marking the largest carmaker IPO in Hong Kong for 2025. The company sold 297 million H-shares at an offer price of HK$30.75 each. Strong investor interest was evident, with shares opening at HK$34.20, representing an 11.2 percent increase over the offer price. The IPO attracted 13 cornerstone investors, including prominent firms such as Hillhouse’s HHLR, Greenwoods, and Guoxuan Hong Kong. Chery reported selling 2.6 million vehicles in 2024, with 1.14 million being exports, maintaining its status as China’s top passenger car exporter for 22 consecutive years. The proceeds from this significant listing are designated for strategic initiatives, including the development of new passenger vehicles, investment in next-generation technologies, overseas market expansion, upgrading production facilities in Wuhu, and bolstering working capital. This event underscores Chery's aggressive growth strategy and its strengthening position in the global automotive market.
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Chery Auto Raises US$1.2B in Hong Kong’s Largest Carmaker IPO of 2025
Chery Automobile, recognized as China’s largest passenger car exporter, successfully listed on the Hong Kong Stock Exchange on September 25. The initial public offering raised HK$9.1 billion (approximately US$1.2 billion), marking the largest carmaker IPO in Hong Kong for 2025. The company sold 297 million H-shares at an offer price of HK$30.75 each. Strong investor interest was evident, with shares opening at HK$34.20, representing an 11.2 percent increase over the offer price. The IPO attracted 13 cornerstone investors, including prominent firms such as Hillhouse’s HHLR, Greenwoods, and Guoxuan Hong Kong. Chery reported selling 2.6 million vehicles in 2024, with 1.14 million being exports, maintaining its status as China’s top passenger car exporter for 22 consecutive years. The proceeds from this significant listing are designated for strategic initiatives, including the development of new passenger vehicles, investment in next-generation technologies, overseas market expansion, upgrading production facilities in Wuhu, and bolstering working capital. This event underscores Chery's aggressive growth strategy and its strengthening position in the global automotive market.
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