Motors Tracker

Xpeng, a Chinese smart electric vehicle producer, seeks to raise USD1.1 billion from its initial public offering on the New York Stock Exchange  with a ticker ‘ XPEV ’, being the 3 rd  Chinese carmaker to get listed in the  world ’ s largest capital market  after Nio and Li Auto.  The Guangzhou-based firm is selling 85 million American depository shares (ADS) with a price between USD11 and USD13, according to the firm’s files submitted to the US Stock Exchange Commission  yesterday . XPeng ’ s market capitalization is expected to be USD9.17 billion if the share price is fixed at USD13.  BofA Securities, Credit Suisse Securities (USA) and J.P. Morgan Securities are acting as joint book-running managers of the offering and as representatives of the underwriters.  Simplicity Holding Limited holds 2 6.4  percent of XPeng, the e-commerce giant Taobao China Holding holds 14.4  percent, IDG entity has 6.2 percent, while the executive team has 4...

Li Auto, which had finished signing up share subscribers early, rose 43 percent on its first trading day on the Nasdaq yesterday, becoming the second Chinese new energy vehicle startup to list in the US after Nio. The Beijing-based firm's stock price [NASDAQ: LI] closed at USD16.46 with a USD13.9 billion market cap. It had started trading at USD15.50 in the morning and its initial public offering price was USD11.50 apiece. Set up in July 2015, Li Auto announced on June 24 that it had finished a USD550 million Round D financing, raising its value to USD4.1 billion. Besides fundraising purposes, an IPO should be good for talent acquisition and branding, founder Li Xiang told Tencent Tech. He had a quarter of the company's shares before the IPO and more than 70 percent of the voting rights, based on the prospectus. Meituan Dianping and its Chief Executive Wang Xing had a combined 24 percent stake. In the first quarter, Li Auto tripled its revenue to CNY852 million (USD121.9 millio...

Meituan Dianping-backed Li Auto is looking to raise USD100 million in its upcoming initial public offering on the Nasdaq as the second Chinese new energy vehicle maker to ever go public in the States after Nio whose stock price has been surging this month. Li Auto, which has already delivered more than 10,000 Li One vehicles, submitted its prospectus with the Securities and Exchanges Commission on July 10. But it didn't disclose its scale of issuance nor pricing details. Founded in April 2015, the Beijing-based firm launched its first model, a six-seater sport utility vehicle, last November. In the past two years, China's auto sales downturn and reduced subsidies have caused competition among manufacturers to further intensify. But some of the popular US-listed sellers, such as Tesla and Nio, have seen their stock prices surge in the past few months. Nio, which went public in September 2018, has had its shares [NYSE: NIO] nearly double in price this month. At this point, Li Aut...