SEPTEMBERASIA BUSINESS OUTLOOK9 CHERY AUTOMOBILE TARGETS $1.2B IN HONG KONG IPONEWSROOMChinese automaker Chery Automobile is set to raise up to HK$9.1 billion (US$1.2 billion) through its upcoming Hong Kong IPO, marking a significant step in its global growth strategy.The company is offering 297.4 million shares at a price range of HK$27.75 (US$3.57) to HK$30.75 (US$3.95) per share. Trading is scheduled to begin on September 25, with no green-shoe option or additional shares planned, meaning the total size of the offering will not increase even if investor demand surges.Proceeds from the IPO will be directed toward research and development, international expansion, and factory upgrades, aligning with Chery's vision to strengthen its competitive edge in the global automotive market.The listing is jointly managed by China International Capital Corp., Huatai Securities, GF Securities, and Citic Securities, notably without participation from Wall Street banks, highlighting the growing dominance of Chinese underwriters in major equity offerings.The move comes amid a wave of large Hong Kong IPOs by Chinese companies, underscoring Hong Kong's continued relevance as a fundraising hub despite global market uncertainties. Chery, known for its focus on affordable vehicles and growing electric vehicle (EV) lineup, is expected to attract strong interest from both institutional and retail investors looking to tap into China's rapidly expanding automotive sector. Celltrion Pharm, South Korea's top biopharmaceutical company, inked a strategic trilateral agreement with multinational syringe maker Becton Dickinson France S.A.S. (BD) and its local arm BD Korea to expand its prefilled syringe (PFS) contract manufacturing (CMO) business worldwide.The signing ceremony was held at Celltrion Pharm's research center in Songdo, Incheon, where President Yoo Young-ho and senior managers of BD and BD Korea attended.The partnership will involve Celltrion Pharm and BD focusing on joint long-term business strategies, building on Celltrion's high-tech PFS CMO facilities and BD's large global client base.Under the BD & CMO Partnership Programme, Celltrion Pharm will be referred to BD's international clients, providing new avenues for collaboration and commercial expansion."This collaboration solidifies our vision of becoming a global top player in the PFS CMO industry. Through the merger of our technical capability with BD's international presence, we aim to deliver end-to-end solutions to pharmaceutical firms globally." said Yoo Young-ho, Celltrion Pharm President.To meet growing market demand, Celltrion Pharm is increasing the production capacity of its Cheongju plant. The existing facility, measured at 2,315m2 over three floors, has a maximum production capacity of 16 million syringes per year.A new facility covering 13,554m2 of vacant land is to be completed by 2030, and it is expected to triple the firm's overall PFS output."Such a partnership is an obvious combination of innovation and reach. We are optimistic it will be a new benchmark in global CMO offerings", said a BD Korea representative. CELLTRION & BD INK GLOBAL PREFILLED SYRINGE DEAL· Chery Automobile to raise up to US$1.2B through Hong Kong IPO· Funds to support R&D, global expansion, and production upgrades· IPO managed by Chinese investment banks, trading starts September 25· Celltrion Pharm signed a strategic agreement with BD and BD Korea to grow its prefilled syringe (PFS) contract manufacturing business globally, leveraging BD's vast international client base· To meet rising demand, Celltrion Pharm will triple its syringe production capacity by expanding its Cheongju facility, with a new plant set to be completed by 2030· The collaboration merges Celltrion's advanced manufacturing technology with BD's market reach, offering integrated solutions to pharmaceutical companies worldwide
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