Chery Is Said to Near HK Listing as Billion-Dollar IPOs Return

Chery Automobile Co. is planning a Hong Kong initial public offering that may raise about $1.5 billion as early as next month, according to people familiar with the matter, adding to what’s shaping up to be a busy September for new listings in the financial hub.

Deliberations are ongoing, and the size and timing of the deal could change depending on market conditions, the people said, asking not to be identified because the information isn’t public. China’s securities regulator said Wednesday it approved plans for Chery to issue as many as 698.9 million ordinary shares in Hong Kong.

A representative ...