By Gaurav Raghuvanshi
Yixin Group Ltd. (2858.HK), a Chinese automobile finance company backed by Tencent Holdings Ltd. (>> Tencent Holdings Ltd), Monday announced an initial public offering to raise 6.77 billion Hong Kong dollars (US$867.9 million).
Yixin is selling 878.7 million shares at HK$7.70 each in the IPO, according to a regulatory filing with the Hong Kong stock exchange. The shares are due to list on Nov. 16, it said.
Citigroup, Credit Suisse and UBS are among the managers of the sale.
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