Chinese language electrical automobile maker Xpeng Inc. (NYSE: XPEV) is about to boost $1.8 billion in its Hong Kong itemizing, Reuters reported Tuesday, citing two folks with direct data of the matter.
What Occurred: Xpeng is pricing its shares at HK$165 ($21.25) every as a part of its Hong Kong twin main itemizing, the report famous. It was reported final week that Xpeng might elevate as a lot as $2 billion from the Hong Kong itemizing.
The corporate offered 85 million shares within the providing and has set a most worth of HK$180 ($23.19) per share for retail traders, as per the report.
Xpeng’s one American Depositary Receipt (ADR) is equal to 2 peculiar shares.
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Why It Issues: Xpeng’s itemizing in Hong Kong is a twin main one and never a secondary itemizing as the corporate doesn’t fulfill the two-year