17:36 - 25.09.2025

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September 25, Fineko/abc.az. Shares of Chinese automaker Chery Automobile Co. rose 13% after the initial public offering (IPO) at the Hong Kong Stock Exchange.

ABC.AZ reports that as a result of the IPO, the company raised $1.2 bn.

The deal opened at the price of HK$34.20, which exceeds the offer price of HK$30.75. As of 09:30 on Baku time, the shares rose by 13% to HK$34.86.

This is the second largest IPO in Hong Kong this year. Currently, Chery's market value is estimated at $23 bn.

The company plans to spend 35% of the funds received on research and development of new passenger cars, and 25% on development of next-generation cars.