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GAC gets public listed in Hong Kong

GUANGZHOU – Guangzhou Automobile Group Co. (GAC), China’s sixth-largest automaker and the Chinese partner of Honda, Toyota and Fiat, got public listed in Hong Kong Stock Exchange on August 30, according to local media reports.

After completing a buyout of its affiliate, Hong Kong-listed Denway Motors, GAC started trading 22 billion new shares under its own name. Its shares, which opened at HK$9, reversed losses to close at HK$9.19.

The listing in Hong Kong will enable GAC to have direct access to international investors for funding to support several new models under its own brand name, the Trumpche (Chuanqi in Chinese, meaning “legend”).

 

 

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