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Xpeng debuts in Hong Kong

Jul 7, 2021

Chinese electric vehicle maker Xpeng debuted on the Hong Kong exchange on Wednesday in a secondary listing. The US-listed firm issued 85 million Class A ordinary shares at a price of HK$165 (around $21.2) each. The IPO is a “dual primary listing,” meaning the firm will be subject to rules and oversight of both US and Hong Kong regulators. [CNBC]

Xpeng prices Hong Kong IPO at HK$165 per share

Jul 5, 2021

Xpeng Motors said on Monday it has priced its shares at HK$165 ($21.2) apiece and expects to raise about HK$14 billion in its upcoming IPO. Listed in the US, Xpeng’s Hong Kong offer price represents a 52% discount on its New York closing price of $43.74 on July 2. The Alibaba-backed EV maker said it will use the funds to develop self-driving technologies and expand its product offerings. [Company statement, in Chinese]

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