Because the Chinese Li Auto is not thrilled at the debut on the stock market
After debuting in Hong Kong, Li Auto's shares lost up to 2.1 percent of their value. I also drop in New York. All the numbers of the operation
On the day of its debut on the Hong Kong stock exchange today, Chinese electric vehicle company Li Auto raised $ 1.52 billion with its listing: it was aiming for a much higher sum of $ 1.9 billion.
DECREASE IN VALUE UP TO -2.1%
Li Auto's shares – valued at 118 Honkong dollars each – have lost up to 2.1 percent of their value. In the same session, shares in another Chinese electric car maker, Xpeng, lost 3.46 percent.
Li Auto's weak Hong Kong debut came a day after its 1.1 percent increase in its shares on the New York Stock Exchange, where it is also listed.
The price of 118 Honkong dollars per share is 3.2 percent below the level at which Li Auto's shares were trading in New York before the Hong Kong listing process was initiated on August 3.
DOWN ALSO IN NEW YORK
After its debut on the Hong Kong stock exchange, Li Auto's value also dropped in the United States, by 4 percent. The company's shares lost 8.75 percent of their value last week, while remaining 6.5 percent higher than last year.
Analysts explained that, given the double listing, Li Auto's shares in Hong Kong will trade at a price in line with that in the United States.
THE FIRST BIG IPO AFTER THE CHINESE CLOSE
That Li Auto – says Reuters – was the first, largest listing of a Chinese company after authorities in Beijing have implemented a number of new and stringent regulations on a range of economic sectors, from technology to education to video games. More specifically, China has imposed stricter rules on Chinese companies listing overseas and handling large amounts of user data.
WHAT THE PRESIDENT OF LI AUTO SAID
Li Auto chairman Shen Yanan told reporters that the company is discussing internally the possibility of issuing A-shares in mainland China: these are Chinese domestic shares, denominated in renminbi. country) and traded on the Shanghai and Shenzen stock exchanges.
Shen also said Li Auto is working on developing battery electric vehicles and that the first model of this new line will go to market in 2023.
A NEW FACTORY IN BEIJING
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/li-auto-quotazione-hong-kong/ on Thu, 12 Aug 2021 12:42:02 +0000.