Guangzhou Automobile's Shanghai shares jump on plan to buy FAW Toyota stake

TOYOTA MOTOR

29/09/2026 03:42

** Shanghai shares of Guangzhou Automobile Group 601238.SS jump 10% to 5.6 yuan, their highest level since June 23
** Stock up after three straight sessions of declines
** Hong Kong-listed stock 2238.HK climbs 5.9% in its second gaining session to HK$2.685, the highest point since September 15
** Guangzhou Automobile Group plans to acquire a 50% stake in FAW Toyota from a unit of state-owned automaker FAW Group through a share issue, the Chinese auto maker said in a Shanghai Stock Exchange filing on Monday
** The transaction value has not yet been determined pending the completion of audit and asset valuation work
** YTD, Shanghai shares down 31.4%, Hong Kong-listed stock down 37% 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))