News Snapshot:
(Bloomberg) -- Hozon New Energy Automobile Co., a startup that makes affordable electric vehicles, has picked banks including China International Capital Corp. and Citic Securities Co. for an initial public offering in Hong Kong, according to people familiar with the matter. The Chinese EV firm is also working with Morgan Stanley and UBS Group AG on the first-time share sale, which could take place as soon as this year, the people said. The IPO could raise about $1 billion, the people said, asking not to be identified as the information is private. Deliberations are ongoing, details such as the fundraising...
