HKEX lists CIMC Vehicles

CIMC Vehicles is the first semi-trailer manufacturer to be listed on the main board of the Stock Exchange of Hong Kong (HKEX), effective July 11.

The OEM has reported that CIMC Vehicles is the fourth independent listed platform established by CIMC, following CIMC (A+H shares), CIMC ENRIC (H share), and CIMC-Tianda (H share).

As announced by CIMC, at 9m on July 11, the H shares (stock code: 1839) of CIMC Vehicles opens for trading on the HKEX at the final offer price of 6.38 HKD/share and at 500 shares/lot. It is also noted in CIMC’s announcement that, after global offering, CIMC will directly or indirectly own 53.82 per cent of the total capital stock issued by CIMC Vehicles through itself and its wholly-owned subsidiaries.

The head of CIMC’s Office of the Secretary to the Chairman noted that the successful listing of CIMC Vehicles is good for both CIMC and CIMC Vehicles. “The listing of CIMC Vehicles is good for the future development of CIMC’s vehicle business, the expansion of its financing space, the improvement of its international standardised management and the increases of its independent brand premium. The financial statements of CIMC Vehicles will still be consolidated into that of CIMC after CIMC Vehicles listing, the development of CIMC Vehicles will add value to CIMC, and bring better revenues for shareholders including CIMC.”

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