Tesla rival Li Auto targets US$1.9 billion in Hong Kong IPO as Chinese electric car sales soar

Source: Tech – South China Morning PostLi Auto, the Chinese electric car maker backed by online delivery giant Meituan, has set the maximum price of its Hong Kong initial public offering at HK$150 (US$19.29) per share, which would enable it to raise up to US$1.9 billion and exceed the amount raised in its New York IPO a year ago.Last July, Li Auto raised US$1.1 billion on the Nasdaq. The Beijing start-up plans to sell 100 million shares, according to its prospectus. The maximum offer price represents a 14.5 per cent premium to its…Read More

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