CIMC Vehicles Listed on the HKEX Today
On the morning of July 11 2019 (today), CIMC, the enterprise with listed A+H shares, announces that the Stock Exchange of Hong Kong (hereinafter referred to as “HKEX”) has approved CIMC’s holding subsidiary - CIMC Vehicles (Group) Co., Ltd. to list and trade its H shares on the main board of the HKEX. It means that CIMC Vehicles is officially listed on the HKEX as the first semitrailer company in the Hong Kong stock market, and that CIMC Vehicles officially becomes 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 9:00 am today, 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% 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 notes 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 standardized 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.