Gasgoo.com (Shanghai August 3) - The China Automobile Trading Company has gained official approval from the China Securities Regulatory Commission to begin trading A shares, the Beijing Times reported today.
According to an official announcement, CATC is preparing to receive 100 percent of the resources and debts of its sister company Dingsheng Tiangong Construction Machinery. After the transaction is completed, CATC will be allowed to trade A shares via Dingsheng Tiangong. Ding Hongxiang, CEO of CATC, said that his company should be listed soon.
After being listed, CATC will follow Zhejiang Yuantong and Pangda to be the country's third largest automobile dealer networking company. The company is China's leading network of import automobile dealerships, with its dealers specializing in Opel, GM, Buick, Chrysler, Jeep, Dodge, Mitsubishi, VW, Ford and Lexus vehicles, among other brands.
