China Harmony Auto launches Hong Kong IPO

The luxury auto dealer seeks to raise up to $315 million from the offering, while two more companies start investor education to test the appetite for new Hong Kong listings.
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China Harmony sells high-end cars such as Ferraris, mostly in Henan province
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<div style="text-align: left;"> China Harmony sells high-end cars such as Ferraris, mostly in Henan province </div>

China Harmony Auto, a car dealership group that focuses exclusively on luxury vehicles in China, yesterday started the bookbuilding for its Hong Kong initial public offering with the aim of raising between HK$1.67 billion and HK$2.44 billion $215 million to $315 million.

According to the current timetable, the institutional order books are expected to close on June 5 and the listing is slated for June 13. The Hong Kong public offering is set to start this Friday and continue until June 5.

The deal comes after auto parts maker Mando China decided last week to postpone its Hong Kong IPO of up to $270...

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