Chinese Automaker BAIC Aims for $2 Billion IPO

Newswire

* Sale seeks to benefit from China's booming auto industry * Offering worth up to $2 bln expected in 2nd quarter - IFR * Citic, Deutsche Bank, HSBC added to underwriting team By Elzio Barreto and Fiona Lau HONG KONG, Jan 17 (Reuters) - Chinese carmaker BAIC Motor, part-owned by Daimler AG, plans to raise up to $2 billion in a Hong Kong initial public offering, hoisting its target as China's auto industry purrs to solid growth. Fueling BAIC Motor's ambitions, the world's ...

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