SCPE-backed Sunfonda Group launches Hong Kong public offering
Sunfonda Group Holdings, the second largest luxury auto dealer in China - and a Standard Chartered Private Equity (SCPE) portfolio company - plans to raise up to HK$683 million ($88 million) through a Hong Kong IPO.
The Xi'an-based car dealer plans to issue 150 million shares at HK$3.65-4.55 apiece, according to a prospectus. Chinese state-owned company Taiping Insurance will participate as a cornerstone investor,...
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