Huawei Partner Seres Group Considers Second Listing in Hong Kong
TMTPOST -- Seres Group Co., the electric vehicle partner of Huawei Technologies Co., is exploring the possibility of a second listing in Hong Kong, according to sources familiar with the matter. This move would follow a growing trend of mainland-listed companies seeking additional listings outside of China.
The Chongqing-based company has been in discussions with potential advisers regarding a share sale that could raise over $1 billion, the sources said, speaking on the condition of anonymity as the matter remains private. If Seres proceeds with the listing, it could take place as early as next year.
Seres’s shares, listed in Shanghai, have surged by 80% this year, bringing the company’s market value to $28.5 billion.
While discussions are ongoing, the sources noted that details such as the size of the offering could change, and there is no guarantee that the deliberations will result in a transaction.
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