Moores Rowland’s another automobile client gone Public on HKEX ---China Harmony Auto Listed on HK Main Board

On 13th June 2013, a domestic limo dealership group, China Harmony Auto Holding Limited(Harmony Auto) successfully went public on main board of HKEX under the stock code 3836. The listed price of Harmony Auto was RMB 6.08 RMB and the opening price on the first trading day was RMB 5.95, raising a total fund of about RMB 1.6 billion.

Harmony Auto, headquartered in Zhengzhou, Henan, began its sales of automobile since 2005, being the second largest limo dealership in mainland of China, owning 25 unit of 4S-stores, which sells BMW, Lexus, Rolls Royce, Ferrari, Aston Martin etc. Now Harmony Auto has 33 retails and 20 authorised dealership with 14 are currently under construction. The total number of stores is estimated to rise up to 69 in 2014.

Before going public, Harmony Auto conducted a 10-day roadshow and acquired oversubscriptions both in international subscription and public offering, indicating strong recognition on Harmony Auto by international capital. Many famous international investors have invested in Harmony Auto, including Goldman Sachs International, China International Capital Corporation, J.P. Morgan Securities, Soros Fund Management LLC, Och-ziff Capital, Lenovo capital and Hill House Capital.

During the process of Harmony Auto‘s listing, Moores Rowland Beijing, as the auditor for internal control, has been working closely with Goldman Sachs, CICC and other international renowned institutions in the effort to assist Harmony Auto to go public. Harmony Auto has become another auto industry client of Moores Rowland Beijing, to successfully get listed on Hong Kong stock market after Zhongsheng Group.