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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Morgan Stanley | NYSE:MS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 92.65 | 14 | 09:59:45 |
From May 2019 to May 2024
By Prudence Ho
HONG KONG-- BAIC Motor Corp., a Chinese car maker partly owned by Daimler AG, has raised US$1.4 billion in an initial public offering in Hong Kong after pricing the deal around the middle of an indicative price range, people familiar with the situation said Saturday.
The car maker sold 1.2 billion shares at 8.90 Hong Kong dollars (US$1.15) each, the people said, around the middle of the HK$7.60 to HK$9.80 indicative price range.
BAIC, which will list in the city Dec. 19, couldn't immediately be reached for comment.
BAIC secured total of US$786 million worth of orders, or 55% of the offering, from 10 cornerstone investors who will buy and hold the shares for six months.
China Aerospace Investment Holdings Ltd., which focuses on investments in satellite application equipment and financial services; and Beijing Enterprises Group Co, which is mainly engaged in the investments in infrastructure and public utility sectors in Beijing, were among the cornerstone investors, according to the preliminary listing prospectus.
HSBC Holdings PLC, Citic Securities International, Deutsche Bank Group, UBS AG and Morgan Stanley are the lead banks on the deal.
Write to Prudence Ho at prudence.ho@wsj.com
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