Brilliance planning IPO of auto-components unit

Brilliance China Automotive Holdings Ltd is planning an initial public offering of its auto parts unit, said an official at Brilliance's parent company.

Brilliance is making preparations for a Hong Kong listing, said the official at closely held Huachen Automotive Group Holdings Co, asking not to be identified because the person is not authorized to comment to the media. The official declined to provide further details.

Brilliance, Bayerische Motoren Werke AG's Chinese partner, rose as much as 6.1 percent to HK$8.40 in Hong Kong trading, while the benchmark Hang Seng Index was little changed.

Huachen Automotive, based in Shenyang, is the largest shareholder of Brilliance China with a 42 percent stake, according to data compiled by Bloomberg.

China Daily-Agencies