Yixin Group Seeks to Raise HK$6.77 Billion Via Hong Kong IPO

By Gaurav RaghuvanshiFeaturesDow Jones Newswires

Yixin Group Ltd. (2858.HK), a Chinese automobile finance company backed by Tencent Holdings Ltd. (0700.HK), Monday announced an initial public offering to raise 6.77 billion Hong Kong dollars (US$867.9 million).

Yixin is selling 878.7 million shares at HK$7.70 each in the IPO, according to a regulatory filing with the Hong Kong stock exchange. The shares are due to list on Nov. 16, it said.

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Citigroup, Credit Suisse and UBS are among the managers of the sale.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

(END) Dow Jones Newswires

November 05, 2017 20:38 ET (01:38 GMT)