Major auto groups may list this year
(chinadaily.com.cn)Updated: 2007-06-12 16:10
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When Shanghai Automotive Industry Corp was successfully listed on the stock market last year, some insiders asserted that other Chinese automakers such as First Automotive Works Corp (FAW) would probably launch their
initial public offering s (IPOs) in 2007.In March of this year, Zhu Yanfeng, general manager of FAW, announced the company's plan for a securities exchange listing was just waiting for approval.
Guangzhou Automobile Industry Group also had plans to launch its IPO since 2003. However, due to the downturn of the Chinese auto market at that time, it suspended its IPO last January. Now Guangzhou Auto has restarted its plan. It hopes to launch its IPO within this year.
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The full text is available in the June Issue of AutoChina.
(For more biz stories, please visit Industry Updates)