Report-Chinese EV Makers Eye Hong Kong Listings This Year To Raise Combined $5 Billion - The Sikh Times
Finance

Report-Chinese EV Makers Eye Hong Kong Listings This Year To Raise Combined $5 Billion

Hong Kong: 10-Mar-21 U.S.-listed Chinese electric vehicle (EV) makers Li Auto Inc, Nio Inc and Xpeng Inc plan to list in Hong Kong as soon as this year, tapping a growing investor base closer to home, said people with direct knowledge of the matter. The trio each aim to sell at least 5% of enlarged share capital in the Asian hub, the people said. Based on their New York market capitalisation on Monday, proceeds could reach $5 billion. The companies have been working with advisors on the sales which could begin as early as mid-year, said one of the people, who declined to be identified due to confidentiality constraints. Li Auto, Nio and Xpeng – which have raised $14.7 billion in U.S. markets since 2018 – declined to comment.

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