CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 87.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Scan to Download iOS&Android APP

Li Auto seeks $1.9bn from Hong Kong stock market listing

By Debabrata Das

03:29, 3 August 2021

Share this article

Subscribe to Weekly Highlights

The major market events for the week ahead right in your inbox. Subscribe
A model of Li One on display - Photo: Shutterstock

Nasdaq-listed Chinese electric vehicle (EV) maker Li Auto is looking to raise as much as HK$15bn (US$1.9bn) from its listing on The Stock Exchange of Hong Kong (HKEX).

The company plans to sell 100 million shares on the HKEX at a maximum offer price of HK$150 per share, according to a statement by Li Auto.

Li Auto can raise more than US$1.9bn as the offering of 100 million shares is being split into 10 million shares for Hong Kong-based retail investors and the rest for global investors. The 90 million shares being offered for retail investors can be priced higher, the company said.

Dual approach

The EV maker has opted for a dual primary listing, meaning that Li Auto will be required to fully comply with the HKEX listing rules in addition to the Nasdaq, where it went public last year. Rival Xpeng also had a dual primary listing in June and raised $1.8bn in its offering at the HKEX.

XRP/USD

0.38 Price
-2.600% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00324

Oil - Crude

73.08 Price
-1.690% 1D Chg, %
Long position overnight fee -0.0095%
Short position overnight fee -0.0056%
Overnight fee time 22:00 (UTC)
Spread 0.03

US100

11,520.00 Price
-0.310% 1D Chg, %
Long position overnight fee -0.0172%
Short position overnight fee 0.0062%
Overnight fee time 22:00 (UTC)
Spread 1.8

BTC/USD

16,853.00 Price
-1.080% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 60.00

Li Auto raised US$1.1bn from its initial public offering on the Nasdaq last year. Its share price has nearly tripled since listing and is currently at US$33.68.

The Beijing-headquartered electric vehicle maker though is still loss-making. According to its prospectus, Li Auto reported a loss of US$54m in the first quarter of 2021 on revenues of US$546m.

Trade Hong Kong 50 - HK50 CFD

1m
5m
15m
30m
1H
4H
1D
1W

Read more: Chinese Tesla rival opts for Hong Kong IPO

Rate this article

Share this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Latest Stocks news

Still looking for a broker you can trust?

Join the 475.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading