Changan Automobile, one of China's top carmakers, announced plans to list on the Hong Kong H-share market and possibly elsewhere to raise funds for further expansion.
The company raised RMB 1.3 billion in A-share and B-share listings in 1996 and 1997 and plans to complete an overseas listing next year.
Changan, based in Chongqing, Sichuan province, is China's second-largest mini-vehicle maker, with a 29.8 percent share of the market last year.
The company recently signed an agreement with Ford Motor to boost an existing JV's production from 20,000 units to 150,000 units. Each party will spend US$500 million by 2005 towards new production facilities.