China's largest vehicle exporter, Chery Automobile, saw its shares jump in its Hong Kong debut after raising 9.1 billion Hong Kong dollars (US$1.2 billion) through an initial public offering.

The stock traded at HK$34.16, about 11% above the IPO price of HK$30.75 . Chery is among a wave of Chinese companies tapping Hong Kong's thriving IPO market.

While the launch proceeded as scheduled, the company canceled its planned listing ceremony at the Hong Kong Stock Exchange due to the city's shutdown following Super Typhoon Ragasa the day before.

The automaker has been accelerating its expansion in Vietnam, Middle East and Europe. Its SUV-focused sub-brand Jetour will enter Europe this November by launching three combustion-engine sport-utility vehicles in Poland.

The automaker in July ann

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