Li Auto Shares Help to Raise Over $1 billion after Hong Kong Listing coinspeaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coinspeaker.com Daily Mail and Mail on Sunday newspapers.
The trio has already set in motion talks with advisors regarding the listings, it added.
The speculated move reportedly aims at capitalizing on the increased interest among Asian investors for quality, trusted names. The listings could happen as early as the middle of 2020, the report said.
The spokespersons for Nio and Xpeng declined to comment on the report when contacted by Benzinga.
Why It s Important: EV manufacturers are operating in an investment-intensive industry that necessitates huge cash reserves to expand their product and service offerings and pursue innovation to stay relevant in the industry.
Nio, Xpeng and Li Auto had all raised massive amounts of capital through follow-on offerings in December. Nio raised $2.6 billion by offering 68 million ADSs, XPeng mobilized about $2.5 billion and Li Auto about $1.4 billion.