Reuters logo
Daimler-backed BAIC Motor plans up to $2 bln Q2 Hong Kong IPO-IFR
January 17, 2014 / 4:37 AM / 4 years ago

Daimler-backed BAIC Motor plans up to $2 bln Q2 Hong Kong IPO-IFR

HONG KONG, Jan 17 (Reuters) - Chinese automaker BAIC Motor, partly owned by Daimler AG, plans to raise up to $2 billion in a Hong Kong initial public offering in the second quarter of 2014, IFR reported, citing sources familiar with the plans.

The company has added Citic Securities International , Deutsche Bank and HSBC to the roster of banks managing the deal after a pitching process for mandates last month, added IFR, a Thomson Reuters publication. BAIC Motor is the passenger car unit of state-owned Beijing Automotive Group (BAIC).

The new banks would join Goldman Sachs and Morgan Stanley, which have been working on the deal since 2013.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below