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A car produced by Chinese automobile manufacturer Chery is on display for sale at a dealership in Vladivostok, Russia, March 22, 2023.
Tatiana Meel | Reuters
China's largest vehicle exporter, Chery Automobile, saw its shares jump in its Hong Kong debut after raising 9.1 billion Hong Kong dollars (US$1.2 billion) through an initial public offering.
The stock traded at HK$34.16, about 11% above the IPO price of HK$30.75. Chery is among a wave of Chinese companies tapping Hong Kong's thriving IPO market.
While the launch proceeded as scheduled, the company canceled its planned listing ceremony at the Hong Kong Stock Exchange due to the city's shutdown following Super Typhoon Ragasa the day before.
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