Chairman says Chery Auto set for IPO in H1 '10

Published: 08 Sep 2009 18:15:43 PST

Shanghai, September 8 (Gasgoo.com) Yin Tongyue, chairman of Chery Automobile Co., Ltd., has recently disclosed that the company is preparing to get a domestic listing in the first half of next year, sina.com said today.

Chery Auto started working on the initial public offering (IPO) plan about four years ago, but the application was shelved in late 2008 amid a market slump as the global financial crisis struck home.

Chery Auto has reportedly completed in June the last round of financing before the listing. It raised 2.9 billion yuan from several investment institutions.

As to where to conduct its IPO, the Chery chairman once said on several occasions that the Chinese yuan-denominated A-share market would be the first choice for his company.

Full Story