HONG KONG: Chinese electric vehicle maker Xpeng Inc will raise US$1.8 billion by pricing its shares at HKUS$165 each as part of its Hong Kong dual primary listing, two people with direct knowledge of the matter said.
Xpeng's New York American Depository Receipts closed Tuesday at US$44.32, down nearly 1per cent. One ADR is the equivalent of two ordinary shares in Hong Kong, a term sheet for the deal shows.
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