China Electric Car XPeng IPO in Hong Kong, Market Value at $35 Billion Founder Xiaopeng with $7 Billion Fortune
12th July 2021 | Hong Kong
China electric car company XPeng Motors has IPO on Hong Kong Exchange in a dual listing, closing the day flat at HKD 165 with market value of $35.6 billion (7/7/21). XPeng Motors, already listed on NYSE (New York Stock Exchange) in August 2020, raised $1.81 billion (HKD 14.02 billion) in the IPO. XPeng was founded in 2015 by former Alibaba executive He Xiaopeng, who is estimated to have a personal net worth of more than $7 billion. (IPO ~ Initial Public Offering)
” XPeng IPO in Hong Kong, Market Value at $35 Billion Founder Xiaopeng with $7 Billion Fortune “
XPeng, Chinese Smart Electric Vehicle Co.
Founded in 2015 by former Alibaba executive He Xiaopeng, XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China, delivering 27,041 vehicles in 2020.
In 2020, XPeng reported revenue of $895.7 million and net loss of $418.7 million. In August 2020, XPeng completed its IPO on NYSE (New York Stock Exchange), raising $1.5 billion.
Hong Kong IPO
- Raise $1.81 billion (HKD 14.02 billion), 85 million shares
- IPO Price HKD 165, closes HKD 165 (7/7/21)
- HKEX:9868.HK
- NYSE: XPEV
JP Morgan and Merrill Lynch are the joint sponsors. The joint global coordinators are JP Morgan, Merrill Lynch, Citigroup and CLSA.
The dual primary listing will also allow qualified Chinese investors to invest via the Stock Connect scheme, which link mainland Chinese and Hong Kong markets.
About XPeng Inc.
XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively.
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