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Chinese language electrical car maker Li Auto shares slipped 2.1% beneath their supply value of HK$118 within the firm’s buying and selling debut on the Hong Kong Inventory Trade on Thursday.
The corporate raised $1.52 billion by pricing its inventory at HK$118 every in its twin major itemizing within the metropolis. Li Auto can be listed in New York.
Hong Kong’s Cling Seng Index was flat in early commerce. The weaker debut adopted a 1.1% rise in New York-listed Li Auto shares on Wednesday.
At HK$118 every, the worth represented a 3.2% low cost to the extent the place the New York inventory was buying and selling earlier than the Hong Kong deal was launched on Aug. 3.
Li Auto’s president Shen Yanan informed reporters that it’s internally discussing the opportunity of issuing A-shares in mainland China.
It’s creating battery electrical automobiles along with its present prolonged vary electrical car mannequin, which makes use of a distinct powertrain, to increase its buyer base, Shen mentioned. The primary battery electrical mannequin is anticipated to be bought in 2023, Shen mentioned.
Li Auto plans to arrange a brand new manufacturing unit in Beijing to increase manufacturing capability and to have extra showrooms in purchasing malls throughout Chinese language cities to increase gross sales channels, Shen mentioned.
The electrical car maker had aimed to lift extra funds at its Hong Kong debut however the inventory dropped 4% in the USA final Thursday earlier than the worth was finalised, which diminished the quantity buyers had been prepared to pay.
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