Leading Chinese Luxury Auto Dealer in HK$962 Million Hong Kong IPO

Cleary Gottlieb represented China Rundong Auto Group Limited in its HK$962 million ($123 million) initial public offering. The deal priced on August 6 and closed on August 12. In addition to a public offering in Hong Kong, the offering was made on a Rule 144A/Regulation S basis. The shares began trading on the Hong Kong Stock Exchange on August 12.

China Rundong is one of Eastern China’s largest luxury automobile dealership groups in terms of number of dealership stores and showrooms.