The Guangzhou-based company said on Thursday that it will issue 85 million Class A common shares at a price of no more than HK $ 180 (US $ 23.19) per share. The final price will be confirmed around June 30.
Based on the higher bid price, Xpeng Motors will raise Hong Kong $ 15.3 billion (US $ 1.97 billion) before excluding related costs such as subscription fees.
Xpeng has been listed in New York. Its Hong Kong stock offering is unusual in that it does not make secondary listings like companies like Alibaba and JD.com. Secondary listing refers to a company that already has a significant listing location, such as the United States, and then sells its shares on another exchange.
