Xpeng seeks to raise up to US$1.1 billion in New York IPO as electric car maker prepares to challenge Tesla in China

//Xpeng seeks to raise up to US$1.1 billion in New York IPO as electric car maker prepares to challenge Tesla in China

Xpeng seeks to raise up to US$1.1 billion in New York IPO as electric car maker prepares to challenge Tesla in China

Electric carmaker Xpeng is seeking to raise up to US$1.1 billion from its initial public offering on the New York Stock Exchange, as it gears up to challenge California-headquartered Tesla in China, the world’s largest market for electric vehicles.The company, which publicly filed for an IPO earlier this month, is selling 85,000,000 American depositary shares (ADS) within a price range of US$11 to US$13. The next step will be to accelerate the marketing process and narrow the range over the…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2020-08-21T17:11:37+00:00 August 21st, 2020|Business|Comments Off on Xpeng seeks to raise up to US$1.1 billion in New York IPO as electric car maker prepares to challenge Tesla in China