BAIC Group plans spin-off listing in 2012
Guo Xinmin, a board director of BAIC Group, revealed the group’s separate listing plan to Chinese media yesterday. The group has four joint-stock companies, Beiqi Foton Motor, BAIC Motor, Beijing Hainachuan Automotive Parts, and Beijing Penglong Auto Trade Service.
So far only Beiqi Foton has been listed, and the other three companies will make separate listings. Their listing schedules won’t be impacted by each other. BAIC Motor is likely to be listed by issuing IPO, and it is scheduled to be listed in 2012, followed by Hainachuan and Beijing Penglong.
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