Chinese electric vehicle (EV) manufacturer XPeng Inc said it hopes to raise up to US$1.11 billion in its initial public offering (IPO) in New ...
Chinese electric vehicle manufacturer XPeng Inc said it hopes to raise up to US$1.11 billion in its initial public offering in New York, seeking to ride the enthusiasm for EVs even as U.S.-China relations remain strained.
The company said on Friday it intends to sell 85 million shares American depositary share , each representing two class A ordinary share, priced between US$11 and US$13 per share.At the top end of the range, XPeng's valuation stood at US$9.17 billion. The Chinese EV maker said existing investors Alibaba Group , Coatue, and Qatar Investment Authority had indicated interest in buying up to US$200 million, US$100 million and US$50 million, respectively, of the ADSs being offered.AdvertisementAlibaba will own all of XPeng's class C ordinary shares, representing 14.9per cent of the voting power of its total shares immediately after the completion of the offering, XPeng said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese EV maker Nio launches battery leasing service, eyes global marketChinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service that will allow drivers to buy an EV without owning the battery ...
Read more »
China's budget EV maker Kandi eyes setting up North American manufacturing plantREUTERS: Chinese battery and electric car maker Kandi Technologies Group Inc said on Thursday it is actively exploring setting up an electric and ...
Read more »
China's EV maker Nio launches battery leasing serviceChinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service which will allow drivers to buy an EV without owning the ...
Read more »
China's EV maker Nio launches battery leasing serviceChinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service which will allow drivers to buy an EV without owning the ...
Read more »
China's EV maker Nio launches battery leasing serviceChinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service which will allow drivers to buy an EV without owning the ...
Read more »
China's EV maker Nio launches battery leasing serviceChinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service which will allow drivers to buy an EV without owning the ...
Read more »