On August 27th, 2020 at 21:30, XPeng Motors (XPEV) was officially listed on NYSE with an opening stock price of $23.1, representing a 56% increase over the issue price. As of the market close, the XPeng Motors stock price was reported at $21.22, representing a huge 41.47% increase over the issue price and a market capitalization of nearly $15 billion.
XPeng Motors issued 99,733,334 American Depositary Shares (ADS) with a price of $15 per ADS (equivalent to 2 Class A ordinary shares of the company). The total amount of funds raised through this IPO was approximately $1.5 billion, which exceeded the originally projected highest value by $1.271 billion.
Today, three pioneers of the “new forces in car manufacturing” in China, NIO, Li Auto and XPeng Motors have successively landed on the US stock market. Which one do you prefer? Please leave your comments in the comment section below.
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.