Chinese Car Sales Platform Yixin Group Plans to Raise USD830 Million in Hong Kong IPO
Zhang Xia
DATE:  Nov 15 2017
/ SOURCE:  Yicai
Chinese Car Sales Platform Yixin Group Plans to Raise USD830 Million in Hong Kong IPO Chinese Car Sales Platform Yixin Group Plans to Raise USD830 Million in Hong Kong IPO

(Yicai Global) Nov. 15 -- China's largest internet car retail platform, Yixin Group Ltd., will list with the Hong Kong Exchanges and Clearing Ltd. [HK:0388] tomorrow using the ticker [HK:2858]. The company intends to bring in about USD830 million (HKD6.5 billion) in its initial public offering, selling shares for HKD7.70 apiece.

Yixin Group said today that it will use the raised funds on sales and marketing, research and technology capacity improvements, and assets and operations.

Yixin Group's main business is online automobile financial services. Bitauto Holdings Ltd. [NYSE:BITA] is its controlling shareholder, and its major stakeholders include Tencent Holdings Ltd. [HK:0700] and JD.com Inc. [NASDAQ:JD].

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Keywords:   Yixin Group