US-based Nexteer Automotive eyes Hong Kong IPO

The auto parts company seeks to raise as much as $500 million. Meanwhile, China Harmony Auto and Wuzhou International are expected to close books today for their offerings.
<div style="text-align: left;"> Nexteer is a global leader in advanced steering and driveline systems </div>
<div style="text-align: left;"> Nexteer is a global leader in advanced steering and driveline systems </div>
June 05, 2013

Bankers are set to start pre-marketing today (June 5) for the Hong Kong initial public offering of Nexteer Automotive, a Michigan-based steering and driveline systems supplier that is seeking to raise about $400 million to $500 million, a source says.

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