Dongfeng IPO shares up 8.8%
8 December 2005
Dongfeng Motor Group shares opened in Hong Kong at a solid 8.8% premium against a tepid response to its US$509 million initial public offering, reported the Wall Street Journal. More gains are predicted by analysts for the Wuhan-based automaker over the mid-term, as China's car market enjoys brighter times in 2006 after a period of price wars and tighter lending. Dongfeng's share price was up yesterday to 22 US cents against its 20 US cent issue price.
