China's Geely drops its IPO plans

2021-06-25 18:30:00

China's Geely Automobile Holdings Ltd said on Friday it would drop plans to list new renminbi shares on mainland's Nasdaq-like STAR Market.

Zhejiang-based Geely, China's highest-profile automaker, thanks to parent group investments in Daimler AG and Volvo Cars, is currently listed in Hong Kong with a market capitalisation of HK$255 billiion.

In September, Geely said in a filing that it planned to raise 20 billion yuan from the STAR Market listing.

(Reporting by Yilei Sun and Tony Munroe; editing by Jason Neely)

Source: https://www.reuters.com/business/autos-transportation/chinas-geely-scraps-star-market-listing-plan-2021-06-25/

STAR Market auto maker geely IPO

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