BAIC Motors hires banks for $2bln Hong Kong IPO

Newswire

HONG KONG, July 4 (Reuters) - Chinese carmaker BAIC Motor Corporation Ltd, part-owned by Daimler AG, has hired four banks for a Hong Kong initial public offering worth up to $2 billion. The company has hired HSBC, CITIC Securities International, Deutsche Bank and UBS AG, according to a prospectus filed with the Hong Kong Exchange. Reuters had earlier reported that Goldman Sachs and Morgan Stanley were also working on the planned listing for state-backed BAIC ...

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