Chinese language electric-car maker Li Auto Inc.
priced its preliminary public providing on Thursday at $11.50 per American depositary share, above its proposed worth vary of $eight to $10. The corporate bought 95 million ADS to boost $1.,093 billion. Goldman Sachs, Morgan Stanley and UBS are among the many underwriters. Shares will begin buying and selling later Thursday, below the ticker image “LI.” Li’s IPO comes on the heels of current IPO successes for electric-vehicle makers resembling Nikola Corp.
and of share rallies for Tesla Inc.
and Nio Inc.
additionally a Chinese language EV maker. Li stated it began quantity manufacturing of its first mannequin, an SUV known as Li One, in November 2019, and that it has delivered greater than 10,400 Li One autos as of June 30. Li stated it focuses on SUVs costing between $21,000 and $70,000, in search of to supply clients “unparalleled worth for cash with the efficiency, performance, and cabin-space of a big premium SUV however pricing near a compact premium SUV,” it stated.
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