On December 9, Beijing Automotive Co., Ltd. (BAIC) officially offered shares on the Hong Kong Stock Exchange and will be listed on the Main Board on December 19. From the scale of sales last year, BAIC will become the second largest passenger car manufacturer among the listed companies on the Hong Kong Stock Exchange.
The current round of the sale of 234.82 million H shares of BAIC, 95% of which are international offerings and 5% of which are for sale in Hong Kong. The face value of each H share is RMB 1 and the offer price is between HK$7.6 and HK$9.8. The net proceeds from the Global Offering are approximately HK$9656.8 million, which is based on the Group's share price of HK$8.7 per share and the over-allotment option has not been exercised.
