Chinese electric vehicle (EV) manufacturer Li Auto plans to list on the Hong Kong Stock Exchange on 12 August 2021, as part of a new global issue of 100m shares at a maximum offer price of HK$150 per share.
A further 15m shares would be issued in the 30 days following the listing as part of an ‘over-allotment’ or ‘green shoe’ option.
The final share price would be decided tomorrow (6 August) with up to 10m shares or 10% of the issue to be allocated to Hong Kong-based investors, according to an exchange filing.
According to the prospectus, the company plans to invest the funds in R&D, to develop new EV drivetrains and platforms, smart and self-driving technologies. It also plans to increase production capacity and expand sales, aftersales and recharging networks.
The company’s initial public offering was on the US Nasdaq listing in July 2020 when it raised US$1.09bn.
The automaker reported revenue of CNY9.46bn in 2020 from the sale of 32,624 vehicles and a net loss of CNY151m. In the first seven months of 2021, the company reportedly delivered 38,743 electric vehicles, including 8,589 in July alone.