China's Chery Automobile shares surge in Hong Kong after $1.2 billion IPO

China's Chery Automobile shares surge in Hong Kong after $1.2 billion IPO

By Scott Murdoch SYDNEY (Reuters) -Shares of Chinese car maker Chery Automobile jumped 11.2% as the company started trading on the Hong Kong Stock Exchange on Thursday following its $1.2 billion initial public offering. Chery, best known for its Chery, Jetour and iCAR brands, is tapping investor appetite as it expands in the competitive electric and smart vehicle market. The stock opened at HK

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