Markets, Politics, Electric Vehicles, Ipo, Autos, Transportation, Tesla Inc, Li Auto Inc, Nio Inc, Xpeng Inc, China

Markets, Politics

Chinese Tesla rival Xpeng to raise up to $2 billion from Hong Kong listing

Chinese Tesla rival Xpeng to raise up to $2 billion from Hong Kong listing

6/25/2021 8:17:00 AM

Chinese Tesla rival Xpeng to raise up to $2 billion from Hong Kong listing

Xpeng will issue 85 million Class A ordinary shares at a price of no more than 180 Hong Kong dollars ($23.19) each for its dual-primary listing.

Key PointsChinese electric carmaker Xpeng will raise up to nearly $2 billion in a Hong Kong listing.Xpeng will issue 85 million Class A ordinary shares at a price of no more than 180 Hong Kong dollars ($23.19) each. A final offer price will be set on or around Jun. 30.

‘You’re Going Away For A Long Time’ Says Police Officer Successfully Locking Up Rape Kit Frustrated Customer At HBO’s ‘The Shop’ Waiting Hours For Haircut While LeBron Talks About 2016 Finals CNN Fires Three Employees for Coming Into the Office Unvaccinated

Xpeng is doing what's called a dual-primary listing, meaning it will be subject to the rules and oversight of both U.S. and Hong Kong regulators, which isn't the case with a secondary listing.In this articleA Xpeng P7 electric car is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 20, 2020 in Guangzhou, Guangdong Province of China.

VCG | Visual China Group | Getty ImagesGUANGZHOU, China — Chinese electric carmaker Xpeng will raise up to nearly $2 billion in a Hong Kong listing.The Guangzhou-based company said on Thursday it will issue 85 million Class A ordinary shares at a price of no more than 180 Hong Kong dollars ($23.19) each. A final offer price will be set on or around Jun. 30. headtopics.com

At the maximum offer price, Xpeng would raise 15.3 billion Hong Kong dollars ($1.97 billion) before related costs such as underwriting fees.CNBC reported earlier this weekthat Xpeng is looking to raise between $1 billion and $2 billion.Xpeng is already listed in New York. Its share offering in Hong Kong is unusual because it's not a secondary listing, as companies including Alibaba and JD.com have done. A secondary listing is when a company already has a main listing location such as the United States, and it then sells shares on another exchange.

Read more: CNBC »

Chinese Tesla? ... we're not over their 'high tech flu' yet! horrible One PDF member was killed and 3 got injured in two clashes with military terrorists in Minkin township this morning. WhatsHappeningInMyanmar June24Coup AuspiceRefugees

Hong Kong pro-democracy tabloid Apple Daily to print last edition on ThursdayHong Kong's pro-democracy tabloid Apple Daily will stop operating no later than Saturday, its publisher says, after national security police arrested another of its employees. Freedom of speech & press are seriously oppressed. Under unlawful national security law, unlimited power for CCP, HK puppet govt & watchdog police to collect any privacy & materials of press as easy as a blink. The red line is anywhere as they wish. HK needs help. standwithhk HongKongers want AppleDaily ! HongKongers want press freedom! Thank you Apple Daily 😭😭 No more freedom of press in HK under numerous ‘red lines’ created by CCP

Security chief named Hong Kong No. 2 official amid clampdownHONG KONG (AP) — China on Friday promoted Hong Kong’s top security official to the territory’s No. 2 spot as Beijing continues to clamp down on free speech and political opposition. Chief Executive Carrie Lam said Secretary for Security John Lee would replace Matthew Cheung as the city’s chief secretary, while police chief Chris Tang would take over Lee’s role. Hong Kong is long gone. Prosperous HongKong When you post this I know I pinpointed correctly

Hong Kong begins first trial under national security law with no juryA national security law, which was penned in Beijing and imposed on Hong Kong last year after huge protests, allows for cases to be tried by three specially selected judges instead of a jury.

Hong Kong Pro-Democracy Paper Apple Daily Ceases Operations Week After CrackdownThe shut down of Apple Daily is being seen as a major blow to media freedom in the city which has increasingly come under Beijing’s control. CCP is abusing the National security law and well planned to take down the last paper media who speaks the truth and against the regime. This means the dead of press freedom in Hong Kong! StandWithHongKong appledaily It is because CCP and HKGov make me waking up. 蘋果,感謝你們依26年喺香港既貢獻 Thank you Apple Daily. Support AppleDaily Respect AppleDaily FreeJimmyLai NationalSecurityLaw CCP_is_terrorist FreeHongKong StandWithHongKong Totally political persecution. Further provide that HongKong is RulebyLaw!!! Today is appledaily_hk, Tomorrow will be all HongKongers. No more Freedom in HK now. HK already become the NewBerlin under the NationalSecurityLaw. StandWithHongKong SaveApplyDaily save12

Chinese state tabloid compares closure of Hong Kong's Apple Daily to Trump's Twitter ban'Any media outlet that has gained inciting power to oppose the mainstream will not be spared,' the Global Times said in an editorial.

Hong Kong's Next Digital says Apple Daily newspaper to end on SaturdayJailed Hong Kong media tycoon Jimmy Lai's Next Digital said on Wednesday that due to the prevailing circumstances in the city its Apple Daily newspaper will come to an end no later than Saturday. The statement came after 500 Hong Kong police took part in a raid that saw officers sift through reporters' computers and notebooks at Next Digital's pro-democracy tabloid Apple Daily, the first case in which authorities have cited media articles as potentially violating the national security law. (Reporting By Jessie Pang; Editing by Andrew Heavens) TotemFreedom Update: 1 more staffs was arrested this morning. Hence, AppleDaily close today to protect their staff 😢 It is because CCP and HKGov make me waking up. 蘋果,感謝你們依26年喺香港既貢獻 Thank you Apple Daily. Support AppleDaily Respect AppleDaily FreeJimmyLai NationalSecurityLaw CCP_is_terrorist FreeHongKong StandWithHongKong Will the people die if they have other voices? CCP_is_terrorists StandWithHongKong