Chinese Tesla Li Auto prepares IPOs in Hong Kong
Chinese electric car maker Li Auto is preparing to land on the Hong Kong stock exchange where it expects to raise at least $ 1.9 billion
The Chinese Tesla is preparing to raise up to $ 1.93 billion in Hong Kong.
Chinese electric vehicle maker Li Auto said Tuesday it was preparing an initial public offering (IPO) on the Hong Kong Stock Exchange. Shares of the Chinese automaker are already listed on the Nasdaq stock market in New York.
Li Auto's proposal for secondary listing comes nearly a month after rival XPeng Inc raised $ 1.8 billion in its Hong Kong debut, aiming to build on growing investor interest in vehicle manufacturers. electrical.
As the BBC points out, the move comes as US-listed Chinese companies face growing scrutiny from Beijing and Washington. The US SEC announced on Friday that it will from now on request additional information from Chinese companies aiming to sell shares in the US.
All the details.
WHAT IS THE AUTO
Li Auto is a Chinese startup founded six years ago that designs, develops, manufactures and sells smart electric SUVs.
It raised $ 1.09 billion through its Nasdaq listing last July.
SALES OF THE LI ONE SUV
Earlier this week, Li Auto reported a more than threefold leap in delivery of its only midsize crossover SUV, Li One, which passed the 8,000-vehicle milestone in July.
Li One is in fact the only model of the company currently on the market. It is a plug-in hybrid that has a tank to charge the battery and extend its range.
Vehicle sales are proceeding well even though a recovery in the automotive market is threatened by the global shortage of chips that has forced many car manufacturers around the world to suspend production.
THE DETAILS ABOUT THE IPO
The company said it will issue 100 million shares in its Hong Kong IPO at a maximum offer price of $ 150 per share. The electric vehicle maker will offer up to 10 million shares to Hong Kong investors and 90 million shares to global investors, it said in an exchange paper.
The offering also includes a greenshoe, or over-allotment, option to sell an additional 15 million shares within 30 days of listing, likely bringing the total raised amount up to $ 17.25 billion.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/la-tesla-cinese-li-auto-prepara-ipo-a-hong-kong/ on Thu, 05 Aug 2021 06:24:57 +0000.