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Guangzhou Automobile considers HK IPO in 2006
(Dow Jones)
Updated: 2005-12-30 14:55 Guangzhou Automobile Industry
Group Co., China's seventh-largest automaker by sales volume, is considering a
public share offering on the Hong Kong stock market next year, the Shanghai
Securities News reports.
"The group will definitely go public in the second half of next year. The
group prefers an overseas listing and will very likely list shares in Hong
Kong," the report cites Zeng Qinghong, deputy general manager of Guangzhou Honda
Automobile Co., as saying.
Guangzhou Honda is a 50-50 joint venture between Guangzhou Automobile and
Japan's Honda Motor Co. (HMC)
Guangzhou Automobile is targeting an annual production of 1.1 million
automobiles by 2010, the report says.
Officials at Guangzhou Automobile weren't immediately available to
comment.
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