GUANGZHOU, China – Chinese electric four-wheeler maker Xpeng will elevate up to almost $2 billion from the Hong Kong listing. On Thursday, the Guangzhou-based organization said that it will issue almost 85 million Class A normal shares at a value of no greater than 180 Hong Kong dollars ($23.19) each. The ultimate value will be fixed on or around the 30th of June.
At the highest offer value, Xpeng would surge 15.3 billion Hong Kong dollars ($1.97 billion) prior to associated costs like underwriting fees. Earlier we have come to know that Xpeng is looking forward to upscale its value between $1 billion and $2 billion.
In New York, Xpeng is already listed, and its share offering in Hong Kong is uncommon due to its not a secondary listing, as organizations are including JD.com and Alibaba have done. A secondary listing is while an organization already has a chief listing location like the US, and it thereafter sells shares on another exchange.
Instead of anything, Xpeng is doing the right thing which generally familiar as a dual-primary listing. That indicates it will be subject to the regulations and errors of both Hong Kong and the U.S. regulators, which is not the scenario with any secondary listing.
Based on the requirement. Xpeng and its capitalizing investment banks could issue more shares, which might in probability surge the money amount the organization gains from this listing. Xpeng stated that it will apply the proceeds from the listing of Hong Kong to spread its products and grow more modern technologies along with marketing and elaborated manufacturing.
