Guangzhou Auto A+H share listing plan launched

Following its IPO (initial pubic offering plan) revival plan announced six month ago, Guangzhou Auto has finally took one big step towards its goal. Sources say that Guangzhou Auto's A share and H share listing plan has gained approval from State-owned Assets Supervision and Administration Commission of Guangzhou Provincial People's Government, marking the official start of its IPO plan. But the listing details were not revealed. As a main driver for core economic growth in Guangzhou province, the sixth largest automaker in China undertakes the task of forging local economic development. If it can be successfully listed on both the Hongkong and the mainland stock market, it will assist greatly to meet its capital demand and develop its own vehicle brand.