Li Auto, formerly known as CHJ Automotive, plans to raise US$950m in an initial public offering (IPO) in the US in what will be one of the biggest listings there by a Chinese company this year, according to local reports.
The company, established in 2015 with the backing of Chinese food delivery giant Meituan Dianping, will offer 95m American depositary shares at an indicative price range of US$8-$10 per share, according to its updated prospectus filed with the US Securities and Exchange Commission.
Go deeper with GlobalData
The shares are scheduled to be traded on the US Nasdaq exchange on 31 July under the ticker LI.
Li Auto plans to use most of the funds raised for capital expenditure and investment in R&D and new products including the Li One extended range electric SUV.
At the end of 2018, the company acquired Chonqing Lifan Motors along with its 100,000 units/year assembly plant in Changzhou plus its new energy vehicle production licence.
See Also:
US private equity firm Hillhouse Capital plans to invest US$300m in the float, according to the company filing.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe offering will be a test of US investor appetite for Chinese IPOs amid escalating political tensions between the US and China.
