Chinese electric-vehicle (EV) maker Seres Group has raised HK$14.3bn ($1.8bn) through a Hong Kong listing, reported Bloomberg.

The company set its offering at the top end of the indicated range and exercised an option to boost the deal size.

Based in Chongqing, the EV maker sold roughly 108.6 million shares at HK$131.50 apiece, a total that encompass 8.4 million extra shares that increased the offering by roughly 8.4%.

The price represents a 22% discount to Seres’ Shanghai closing price of 155.19 yuan on 31 October.

The newly Hong Kong-listed shares are scheduled to begin trading on 5 November 2025.

The transaction is the eighth Hong Kong listing this year to raise over $1bn and follows a wave of large floats that has already put proceeds above Bloomberg Intelligence’s $26bn forecast for this year.

China International Capital and China Galaxy Securities were joint sponsors for the Hong Kong listing.

Established in 1986 as a producer of springs and shock absorbers, Seres later moved into motorcycles and then EVs. The company is an EV partner of Huawei Technologies.

Separately, Seres’ battery electric vehicle (BEV) manufacturing arm, Seres Automobile Company, raised up to 5bn yuan in new capital in a Series E round announced in June, with new investors said to include ICBC Financial Assets Investment and Bocom Financial Asset Investment.

The company aims to bolster its balance sheet as the fierce price war in the country’s BEV segment shows no sign of letting up.