Dongfeng gets into gear

First of China''s big three auto manufacturers pre-markets Hong Kong IPO.

Dongfeng Motor Corp, China's third largest automobile group by market share, embarked on pre-marketing for its Hong Kong Stock Exchange listing last Monday October 24. Backed by lead managers, CICC, Deutsche Bank and Merrill Lynch, the Wuhan-based group has gone out with a wide proceeds range of roughly $450 million to $650 million.

Such need for flexibility and caution is hardly surprising given how uncertain investor sentiment remains. Dongfeng faces two principal roadblocks.


To continue reading, please login or register for free

Click for more on: dongfeng | gets | gear

Print Edition

FinanceAsia Print Edition