Pang Da

Pang Da Automobile Trade Co. Ltd.
legal form	Corporation
Seat	Tangshan , People's Republic of China
management	Qinghua Pang, CEO
Branch	Automobile trade
Website	http://www.pdqmjt.com/en/

Pang Da Automobile Trade Co., Ltd. ( Chin. 庞大汽贸集团股份有限公司 ), or Pang Da for short , is a listed car trading company from Tangshan in the People's Republic of China .

history

Pangda Automobile Trade was originally part of Tang Shan Jidong Material Group Co., Ltd. , which in turn from Tang Shan Jidong Mechanical and Electrical Equipment Co., Ltd. and the Luan Country Materials Bureau Electrical Equipment Company, founded in 1988 .

The company owns around 1,200 car dealerships which, in addition to domestic brands, also sell cars from foreign suppliers such as Volkswagen , Audi , Mercedes-Benz , Toyota , Honda and Subaru . According to its own information, the company sold 470,000 vehicles in 2010, which corresponds to a share of 2.6 percent of the overall Chinese market.

On April 27, 2011, the company became the first car dealer in the country to be listed on the stock exchange; the IPO had a volume of just under one billion US dollars . Based on the issue price of 45 yuan , the company described itself as the automobile dealer with the world's highest market value, but ignored the significantly lower initial listing of 36 yuan.

In mid-May 2011, the company appeared as a potential investor in Saab Automobile, which was in financial difficulties, and announced that it would acquire a 24 percent stake in the parent company Spyker Cars for 65 million euros . In addition, a joint venture for sales and production in China is to be established. Models from Saab and a new Chinese brand are to be manufactured in the production plant.

Web links

Official website (English).

Individual evidence

↑ ^a ^b Press release Pang Da on the IPO (Pangda Initially Publicly Issue the A-share to Officially Launch the Stock Markets of Shanghai). Pangda Automobile Trade Co., Ltd, May 10, 2011, accessed June 9, 2011 .
↑ Samuel Shen: UPDATE 3-China's Pangda shares plunge 23 pct on Shanghai debut. In: reuters.com. April 28, 2011, accessed July 9, 2011 .
↑ Annette Berger: Saab conjures new Chinese savior out of the hat. In: Financial Times Germany. May 16, 2011, archived from the original on May 18, 2011 ; Retrieved May 16, 2011 .

[Pangda-2011-05-10-1] Press release Pang Da on the IPO (Pangda Initially Publicly Issue the A-share to Officially Launch the Stock Markets of Shanghai). Pangda Automobile Trade Co., Ltd, May 10, 2011, accessed June 9, 2011 .

[2] Samuel Shen: UPDATE 3-China's Pangda shares plunge 23 pct on Shanghai debut. In: reuters.com. April 28, 2011, accessed July 9, 2011 .

[3] Annette Berger: Saab conjures new Chinese savior out of the hat. In: Financial Times Germany. May 16, 2011, archived from the original on May 18, 2011 ; Retrieved May 16, 2011 .