REUTERS: Chinese electric-vehicle maker XPeng Inc said on Thursday it is looking to list its common shares on the Hong Kong Stock Exchange as part of a global offering.
After the proposed listing, Xpeng’s Class A ordinary shares in Hong Kong will be convertible with its American depositary shares (ADS) that are currently listed on the New York Stock Exchange.
The Hong Kong float of 4.25 million shares, to be priced at not more than HKUS$18 apiece, forms a part of the company’s global offering of 85 million shares, Xpeng said.
Led by Chief Executive Officer He Xiaopeng, Xpeng is developing smart-car technologies, such as autonomous driving functions, with an in-house team of engineers.
Investors in the global offering will not be able to take delivery of ADSs listed on the NYSE, the company said.
Xpeng will be listed on the Hong Kong Stock Exchange under the stock code “9868”.
J.P. Morgan Securities (Far East) Ltd and Merrill Lynch (Asia Pacific) Ltd are the joint sponsors of the listing.
(Reporting by Sohini Podder in Bengaluru and Yilei Sun in Beijing; Editing by Bernard Orr and Devika Syamnath)
