8.4Auto dealers group preparing for listing this year

Auto dealers group preparing for listing this year

 

http://autonews.gasgoo.com/auto-news/1011594/Auto-dealers-group-preparing-fo
r-listing-this-year.html

 

Shanghai, August 4 (Gasgoo.com) Power Diversity Automobile Trade Group Co,
one of China's biggest automobile trading groups, is preparing a listing
before the end of this year, the company's senior executive said on Monday. 

 

"We have submitted an application to the China Securities Regulatory
Commission (CSRC) as early as last year but the commission held up the
process due to the impact of global economic crisis," said Li Jinyong,
deputy general manager of Power Diversity Auto. 

 

Li said now Power Diversity is expecting to get the CSRC approval before the
end of this year, adding that the regulator has approved more than 30
enterprises' listing plan so far this year. 

 

Power Diversity currently is the sales agent for more than 40 global auto
brands including 15 commercial vehicle brands. The company is expanding its
dealership networks nationwide and is expected to have 300 dealers by the
year end. 

 

Other Chinese auto dealer groups, including Shanghai YongDa (Group) holding
Co, Zhejiang Yuantong Mechanical & Electrical Equipment (Group) and China
Grand Automotive Service, are also preparing plans to go public, according
to earlier media reports.

 

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