Chinese Electric Vehicle Maker Li Xiang to Raise Over 2 Trillion Won through Hong Kong Listing

[Asia Economy Reporter Cho Hyun-ui] Chinese electric vehicle startup Li Xiang (Li Auto), listed on the US stock market, plans to raise $1.93 billion (approximately 2.2166 trillion KRW) through a secondary listing on the Hong Kong Stock Exchange.

On the 3rd (local time), CNBC reported, "Li Xiang plans to sell 100 million Class A ordinary shares at HKD 150 per share (equivalent to $19.29 USD) in this offering."

The final price will be announced on the 6th. CNBC explained, "The total fundraising amount is expected to be $1.93 billion based on HKD 150 per share."

Li Xiang intends to use the funds raised for research and development (R&D), expansion of production facilities, and distribution networks.

Li Xiang, which was listed on the US Nasdaq in July last year, will now have a secondary listing on the Hong Kong Stock Exchange.

CNBC stated, "Li Xiang's Hong Kong listing is being pursued amid a situation where Chinese IT companies' stock prices have plummeted due to increased regulatory scrutiny by authorities."

Promising Chinese information technology (IT) companies have turned their attention to the Hong Kong Stock Exchange as the US-China new cold war intensifies.

Starting with Alibaba, several large Chinese tech companies listed on the US stock market, such as JD.com, Baidu, and Bilibili, have already conducted secondary listings in Hong Kong.

This content was produced with the assistance of AI translation services.