Yadea Group Holdings, a manufacturer and seller of electric motorcycles and bicycles, is targeting as much as HK$1.86 billion $240 million from an initial public offering in Hong Kong officially launched on Thursday.
The Huizhou, Guangdong-headquartered company is set to be the first pure-play electric vehicle manufacturer listed in Hong Kong, so will offer some welcome diversity to an equity capital market that has been skewed towards financial institutions so far this year.
The city’s two largest IPOs year-to-date are China Zheshang Bank’s $1.69 billion and Bank of Tianjin’s $948 million floatations, which involved very limited participation from international money managers and regular...
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