Chinese automaker Chery Automobile Co., Ltd. has launched its long-awaited Hong Kong initial public offering (IPO), aiming to raise up to HK$9.15 billion ($1.2 billion). The deal is set to become the largest IPO in Hong Kong this year, highlighting renewed investor interest in Chinese automotive and EV manufacturers.
According to the prospectus, Chery will offer 297.4 million shares at a price range of HK$27.75 to HK$30.75 per share. Final pricing will be announced on September 24, with trading expected to commence the following day on September 25, 2025.
Chery, best known for its Chery, Jetour, and iCAR brands, is betting on strong demand as it accelerates its push into the electric and smart vehicle market, one of the most competitive sectors in global automotive.
The IPO has already attracted cornerstone investors, who committed up to $587 million, providing a solid foundation for the offering.
The company outlined clear use of proceeds:
- 35% will go toward R&D on passenger vehicles across multiple models,
- 25% will fund the development of next-generation cars over the next three years,
- the remainder will support product expansion and market penetration.
Chery has also been broadening its global footprint. Earlier this year, the automaker announced plans to launch the Chery brand in the UK with two SUV models, adding to its existing presence via Omoda (launched in 2024) and Jaecoo (2025).
This IPO comes at a time when Hong Kong’s market has seen fewer large listings, with most activity focused on secondary share sales by mainland-listed firms. The last major deal in 2025 was CATL’s $4.6 billion IPO in May, underscoring the scale of Chery’s move.
If successful, the listing will not only provide Chery with the capital needed for innovation but also reinforce Hong Kong’s role as a hub for global capital raising in the EV sector.
