Xpeng Motors announced today that it will issue 99,733,334 American depositary shares (ADS) through its initial public offering (IPO), with each ADS equivalent to 2 Class A ordinary shares. The issue price is 15 USD per ADS, surpassing the pricing range of 11-13 USD per ADS in the prospectus, and an additional 15 million ADS were issued.
Xpeng Motors granted underwriters a 30-day option to purchase up to 14,959,999 ADS. The total amount raised through the IPO is approximately 1.5 billion USD, exceeding the maximum expected value of 1.271 billion USD in the prospectus.
The ADS of Xpeng Motors are expected to begin trading on the New York Stock Exchange on August 27th, with the ticker symbol “XPEV”, and settlement of the issuance is expected to take place on August 31st, based on customary closing conditions.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.