Sinotruck to IPO in Hong Kong this month

Shanghai. November 2 (Gasgoo.com) -China National Heavy Duty Truck Group Corp., Ltd (CNHTC) plans to raise US$800 million from IPO in Hong Kong, Shanghai Securities News reported today.

CNHTC has completed transaction of 63.78 percent of its A-share assets to CNHTC (Hongkong) International Investment Co, Ltd earlier this year. In April, the transaction has been approved by China's State-owned Assets Supervision and Administration Commission, Ministry of Commerce and Securities Regulatory Commission.

The underwriters for Sinotruck’s IPO in Hong Kong are JP Morgan and China International Capital Corporation.

By the end of October, Sinotruck has achieved this year’s sale target of 80,000 units; in the first nine months, the company has achieved this year’s export target of 10,000 units, a company official said.