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Nikkei Markets

Yixin Group Expects To Raise Up To $867.1 Million In Hong Kong IPO

By Carrie Chen
Nikkei Markets
HONG KONG (Nov 06) -- Chinese online automobile retail transaction platform Yixin Group said it expects to raise up to HK$6.77 billion ($867.1 million) in an initial public offering in Hong Kong.

Yixin is offering 878.7 million shares in an indicative price range of HK$6.60 to HK$7.70 apiece, according to a filing with the Hong Kong stock exchange. The issue has an over-allotment option of 131.8 million shares, or 15% of the offer shares. The company will be spun off from its New York-listed controlling shareholder Bitauto once it is listed in Hong Kong. Bitauto and Yixin will continue to operate under separate brands and platforms.

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