Chinese electric vehicle maker Li Auto plans Hong Kong listing for $ 1.9 billion

Aug. 3 (Reuters) – Chinese electric vehicle maker Li Auto Inc (L87Ay.F) said on Tuesday it was looking to raise up to HK $ 15.0 billion ($ 1.93 billion) in the as part of an initial public offering (IPO) in Hong Kong.

Li Auto’s secondary listing proposal comes nearly a month after rival XPeng Inc (9868.HK) raised $ 1.8 billion in its Hong Kong debut, in a bid to leverage the growing investor interest in electric vehicle manufacturers. Read more

Li Auto, a six-year-old Chinese start-up that raised $ 1.09 billion through its Nasdaq listing in July last year, announced that it would issue 100 million shares when it went public. in Hong Kong at a maximum offer price of HK $ 150 per share.

The offer also includes an over-allotment option to sell an additional 15 million shares within 30 days of listing, likely bringing the total amount raised to HK $ 17.25 billion.

Earlier in the week, Li Auto reported a more than three-fold jump in delivery of its only midsize crossover SUV, the Li ONE, to pass the 8,000-vehicle milestone in July. Read more

The electric vehicle maker will offer up to 10 million shares to Hong Kong investors and 90 million shares to global investors, it said in an exchange filing.

($ 1 = 7.7728 Hong Kong dollars)

Sameer Manekar report in Bengaluru; Editing by Rashmi Aich

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