China-based auto marketplace AutoStreets is set to raise HK$168 million ($21.5 million U.S.) via a listing on the Hong Kong stock exchange on May 31. According to its filing, the company plans to offer 15 million shares at a maximum price of HK$11.20 per share, with 10% of the shares reserved for public investors. Established in 2014, AutoStreets operates a hybrid marketplace for used vehicle auctions both online and offline, facilitated 176,000 used vehicle transactions last year, and reported a significant revenue growth of 58.4% year on year to RMB287 million in 2023. The company is backed by investors such as Manheim, a subsidiary of Cox Automotive, and the China Automobile Dealers Association.
Automotive, Financial Services,China, Hong Kong
https://aimgroup.com/2024/05/23/china-based-autostreets-eyes-21-5m-from-listing-in-hong-kong/