Shanghai People & Hong Kong Videos
It is the second registration attempt by the company, which delayed last year a list The current IPO is half the size of the previous.
Analysts said the IPO Dongfeng will face a sluggish stock market, where liquidity has been absorbed by several mega-IPOs are a number of other introductions into smaller purse are also competing for subscriptions with the automaker.
The vehicle manufacturer based Hubei offers 2 438000000000 H shares, with a price range of action between 1 HK 45 18 6 cents and US 85 23 1 7 HK cents.
The automaker, which plans to invest 1 billion 3 to increase production by 65 percent to 1 2 million vehicles in 2008, is scheduled for the price of the deal next Wednesday before trading start on December 7.
The IPO will be open for individual investors in Hong Kong from today to next Tuesday.
Temasek Holdings, an investment agency of the Government of Singapore and Standard Chartered private equity funds have agreed to acquire respectively 40 million and 50 million shares, according to reports.
General Manager of Dongfeng and chairman Liu said Zhangmin the product of the IPO will be used primarily for debt reduction with four asset management companies belonging to the State, China Huarong, China Cinda, China Orient and Great Wall of China.
He said in a statement that he hopes the debt ratio of the company will remain at a normal level with their international peers after public.
Analysts maintain a wait to see the IPO automaker.
Overcapacity on the continent, high fuel prices and a sluggish stock market in Hong Kong are cited as three major challenges facing the automaker.
Retail investors in Hong Kong seem to have confidence in the car industry in mainland Their enthusiasm was cooled by the fluctuation of the price of passenger cars from the mainland and uncertainties lie ahead in the industry said a Hong Kong-based analyst, who spoke on condition of anonymity.
The prices increasingly high oil, also deter many from buying cars in mainland These factors undermine investor confidence, he said, adding that it would not itself consider buy the stock.
Riders for bibliophiles supply, China International Capital Corp., Merrill Lynch and Deutsche Bank, Dongfeng expect net profit to grow by 38 percent to 2 1 billion yuan 260 million in 2006.
With factories in Wuhan and Xiangfan, two, Dongfeng produces passenger vehicles in a 50-50 joint ventures with Japan's Nissan Motors, Honda Motors and French automaker Peugeot Citroen key industrial cities.
At the end of last year, total assets were Dongfeng 58 1 billion yuan of 7 billion, with net assets standing at 21 billion yuan 7 US 2 6 billion It employed a total of 117,000 people.
During the first eight months of this year, the company produced 329,000 vehicles, up 17 percent from a year earlier, and sold 321,000 units, up 19 percent Its sales for the eight months increased by 18 percent to 52 billion yuan 1 US 6 3 billion and profit jumped 28 percent to 4 4 6 billion yuan 554 million US.
Dongfeng had 12 percent of the passenger vehicle market on the continent during the first half of this year, combining the unit sales of its Nissan, Peugeot Citroen and Honda joint ventures, according to the China Association of Automobile Manufacturers.
Dongfeng Motor Prepares for registration HK, dongfeng, engine list.