BEIJING (Reuters) – China’s Geely Automobile Holdings Ltd said on Friday it would drop plans to list new renminbi shares on mainland’s Nasdaq-like STAR Market.
Zhejiang-based Geely, China’s highest-profile automaker, thanks to parent group investments in Daimler AG and Volvo Cars, is currently listed in Hong Kong with a market capitalisation of HK$255 billiion.
In September, Geely said in a filing that it planned to raise 20 billion yuan from the STAR Market listing.
(Reporting by Yilei Sun and Tony Munroe; editing by Jason Neely)
