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China's Southern Auto eyes listing in HK or U.S.

4050 Views 0 Replies 1 Participant Last post by  ash
Dec. 12, 2006 (China Knowledge) – China Southern Auto Holdings Corp. may list in 2007 in Hong Kong or the U.S., chairman Yin Jiaxu told Reuters on Monday.

China Southern Auto’s IPO is pending approval from China Securities Regulatory Commission (CSRC). Proceeds will be used to fund its subsidiary, Changan Automobile Co. Ltd., in which China Southern Auto owns a 52.5% stake.

With Ford and Mazda as its partner, Changan Auto, the Mainland's fourth-largest vehicle maker, will be expanding its Chongqing plant to make 200,000 cars a year. Plans are also in the works to build a plant in Nanjing, which will have an initial capacity of 160,000 vehicles annually.
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