Shanghai Auto plans $6B IPO In HK, New York

One of China's three major state-run automakers, Shanghai Automotive Industry Corporation, is planning to go public in both Hong Kong and New York in January next year.

The initial public offering amounts to 6 billion US dollars.

Business newspaper, the 21st Century Business Herald, reports Bank of China unit BOC International, Deutsche Bank AG, Merrill Lynch & Company, and Morgan Stanley have been selected as underwriters for the planned global IPO.

Source: CRI news