China's Chery Auto considers IPO to fund growth

Newswire

SHANGHAI, Nov 1 (Reuters) - China's Chery Automobile is considering an initial public offering of shares to fund its expansion, state media said on Wednesday, quoting a company executive. Chery will invest 30 billion yuan ($3.81 billion) to expand its production capacity in the next five to 10 years, and an IPO could be an effective fund-raising method, vice president Lu Jianhui was quoted as saying by the Shanghai Securities News. He did not disclose any timetable for an IPO or other ...

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