Gasgoo.com (Shanghai April 28) - The Pangda Automobile Trade Company, China's largest organization of automobile dealers, will officially begin trading on the Shanghai Stock Exchange today, cnstock.com reported. All eyes are on what figure Pangda, whose returns last year totalled 5.38 billion yuan ($826.6m), will open at–if the company opens at least 45 yuan (6.914) per bond, it will become the world's most valuable automobile dealer network.
The sort of networking that Pangda specializes in as been called the nation's most forward-looking and profitable enterprise. Pangda, whose services include passenger and commercial vehicles, as well as vehicle maintenance, saw its returns grow 50 percent from 2008 to 2010, with net profit last year reaching 1.24 billion yuan ($190.5m).
