AsianFin -- Chery Automobile Co., Ltd. has moved a significant step closer to a Hong Kong listing, following confirmation from China’s Securities Regulatory Commission (CSRC).

The regulator on Wednesday approved Chery’s overseas issuance and listing, as well as the “full circulation” of its domestic, unlisted shares.

According to the CSRC filing, Chery plans to issue up to 699 million overseas-listed ordinary shares and seek a listing on the Hong Kong Stock Exchange (HKEX). In addition, 18 existing shareholders intend to convert a total of 2.016 billion domestic unlisted shares into overseas-listed shares, enabling them to trade on the HKEX.

If successful, Chery’s Hong Kong IPO would rank among the largest automotive offerings on the exchange in recent years, underscoring growing investor appetite for Chinese automakers in global capital markets.

Chery’s move comes amid a wave of Chinese carmakers exploring overseas listings to raise capital for EV development, international expansion, and production scale-up. The company, known for its passenger vehicles and new energy offerings, aims to leverage the Hong Kong market to bolster liquidity and visibility with global investors.

Analysts note that the successful listing would not only enhance Chery’s funding capacity but also position it competitively alongside other high-profile EV and auto IPOs in Hong Kong and beyond.