Chery Auto confident of IPO in H1, pending gov't OK

China's Chery Automobile Co, pending regulatory approval for an A-share initial public offering (IPO), is confident of going public in the first half of this year, the Shanghai Securities News said on Friday.

"We are still awaiting regulatory approval for the IPO. Our goal to complete A-share listing in the first half remains unchanged," the newspaper said, citing an unnamed Chery executive.

Turnover of the country's largest indigenous car maker is estimated at 50 billion yuan ($7.32 billion) in 2009, its chairman Yin Tongyao was quoted as saying, without providing comparative figures.

Auto sales in China hit an all-time record last year thanks to Beijing's policy incentives which had effectively bolstered automobile demand.

Other domestic car makers seeking a public listing include Lifan Group and Guangzhou Automobile Group, a Chinese partner of Honda and Toyota.