New Stock News | It is reported that XCMG Motor is considering listing in Hong Kong as soon as this year, with plans to raise up to 500 million US dollars.

According to reports, Chinese truck company XCMG Auto is considering listing in Hong Kong as soon as this year. The report cited sources familiar with the matter saying that the company plans to raise up to $500 million through stock issuance, as early as this year. The report cited sources adding that discussions, including on the scale of the transaction and timing, are still ongoing. Information shows that XCMG Auto produces electric, hybrid, and hydrogen fuel cell powered heavy trucks used in fields such as highway logistics, construction, municipal sanitation, and mining. The company stated last year that it had raised about 6.4 billion yuan from 30 investors. It is known that investors participating in the mixed ownership reform at that time included industrial shareholder such as China Logistics, Baowu, Chinalco, Jiangsu Port, as well as financial investors such as China State-owned Assets Supervision and Administration Commission (SASAC), National Green Development Fund, Advanced Manufacturing Fund, and other state-owned enterprises, state-level large funds, and financial investors.