BMW dealer Baoxin Auto seeks $530 mln in HK IPO -IFR

Newswire

HONG KONG, Nov 25 (Reuters) - Shanghai Baoxin Auto Sales & Service could raise up to $530 million in an initial public offering of its shares in Hong Kong, IFR reported on Friday, citing a source with direct knowledge of the deal. The company set an indicative price range of HK$8.5 to HK$10.8 per share in the offering, or the equivalent of 9.5 to 12 times its forecast 2012 earnings, IFR added. Baoxin Auto, a dealer in Eastern China for the world's biggest luxury carmaker Bayerische ...

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