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Audi dealership Sunfonda plans to raise 150mn in Hong Kong IPO

By Religare
|

A Chinese auto dealership that sells Audi cars, Sunfonda Group, has decided to go public with plans to raise about USD 150 million in Hong Kong.

The proposed sale could take place next year in 2014, making Sunfonda sixth auto dealer to list shares in Hong Kong since the start of 2010.

One of the largest luxury automobile dealership groups in China's Western region, Sunfonda was founded in 2000 and was the first Audi dealership in the region.

 

According to media reports, the Xi'an, Shaanxi-based Company is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the IPO.

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Story first published: Friday, June 28, 2013, 22:59 [IST]
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