Chinese EV Maker WM Motor Plans Hong Kong IPO


Source: marketscreener.com marketscreener.com

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By Ben Otto Chinese electric-vehicle maker WM Motor Holdings Ltd. is planning an initial public offering in Hong Kong, in the wake of secondary listings by several rivals in the Asian financial hub. The Shanghai-based company said in a filing to the Hong Kong bourse on Wednesday that it plans to use the proceeds from an offering to fund research and development of next-generation EVs, expand its sales-and-services network, and repay loans, among other things. It didn't specify a timeline for the deal nor say how much it intends to raise. WM Motor, which counts Chinese internet search giant Baidu...