Li Auto Inc. Launched World Providing
At present, NEV automaker in China Li Auto Inc. introduced that it plans to launch its world providing of round 100,000,000 Class A extraordinary shares. It features a Hong Kong public providing of initially 10,000,000 Class A shares beginning August this yr. There’s a global providing of 90,000,000 Class A extraordinary shares with a dual-primary itemizing of its Class A shares.
The Firm’s American shares (every of those shares representing two Class A extraordinary shares on this Firm) will stay traded and listed on the Nasdaq World Choose Market. Buyers within the World Providing can solely buy Class A extraordinary shares. Apart from, they won’t be able to obtain supply of ADSs. In reality, by itemizing the Class A extraordinary shares on the Hong Kong Inventory Alternate, the Class A extraordinary shares listed on the Hong Kong Stock Exchange are going to be absolutely fungible listed on Nasdaq.
Within the Hong Kong Public Providing and the Worldwide Providing, this preliminary variety of Class A extraordinary shares symbolize solely 10% and 90% of the whole variety of Class A extraordinary shares. They’re initially obtainable via the World Providing, which is topic to over-allotment and reallocation.
The Hong Kong Supply Worth
The “Hong Kong Supply Worth” is not going to exceed HK$150.00 per Class A extraordinary share, or US$19.28, per Class A extraordinary share, which is equal to US$38.59 per ADS. The “Worldwide Supply Worth” is likely to be larger than the Most Hong Kong Supply Worth. The Firm will choose the Worldwide Supply Worth in August 2021.
The ultimate Hong Kong Supply Worth can be decrease than the ultimate Worldwide Supply Worth. The Most Hong Kong Supply Worth can be HK$155.00 per Class A extraordinary share.
The Firm intends to make use of the web proceeds for analysis and improvement of platforms, HPC BEV applied sciences, and future fashions.