Connect with us

Hi, what are you looking for?

Jewish Business News

IPOs

Israel Corp’s Qoros to hold IPO in 3 years – report

 Chinese sources say that the carmaker will go public in three years and Israel Corp. will probably spin off its stake in the company to a separate company.

051212qoros_design_study_1-1

Qoros Auto Company Ltd., the joint venture of Israel Corporation (TASE: ILCO) and China’s Chery Automobile Co. Ltd., will hold an IPO in three years, according to Chinese sources. If Qoros goes public, Israel Corp. will probably spin off its stake in the company to a separate company.

Germany’s “Frankfurter Allgemeine Zeitung” reports that Qoros will begin exporting cars to Western Europe in 2015. It quotes Qoros VP Volker Steinwascher as saying that the carmaker’s starting capital was €1.8 billion, including investment from its owners, and bank credit. He said that €300 million had been invested in the first production line, and that a corresponding production line in Europe would have cost three times as much. The Qoros 3 sedan with a 1.6 liter engine will cost €20, 000 in Europe.
Published by www.globes-online.com 

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Advertisement
cialis cialis satış