Leading Chinese smart electric vehicle maker Xpeng announced on Wednesday the pricing of an offering of 85,000,000 Class A ordinary shares at HK$165 ($21.25) per share which comprises both an international offering and a Hong Kong public offering.
The Class A ordinary shares are expected to begin trading on the Main Board of the Hong Kong Stock Exchange on July 7, under the stock code “9868”.
The company’s gross proceeds from the Global Offering are expected to be approximately HK$14,025.0 million (assuming the Over-allotment Option is not exercised).
The fresh fund will be used for expansion of its product portfolio, development of advanced technology, and an acceleration of its business operations, among other possible ventures.
J.P. Morgan Securities (Far East) Limited and Merrill Lynch (Asia Pacific) Limited are the Joint Sponsors of the listing of the Offer Shares on the Hong Kong Stock Exchange.
Xpeng, as a leading company that designs, develops, manufactures, and markets smart electric vehicles, plans to go public in Hong Kong in the summer months, as Pandaily had previously reported.