Xpeng fuels $2.2bn ADS sale with investors’ new energy kick

By Jonathan Breen
10 Dec 2020

China’s Xiaopeng Motors, an electric vehicle (EV) maker, leveraged on a big boost in interest in new energy stocks from investors to raise $2.16bn from a follow-on offering of its American Depositary Shares. Jonathan Breen reports.

The issuer, also known as Xpeng, trades on the New York Stock Exchange. It is one of three Chinese EV makers listed in the US, alongside Nio, the first to list, and Li Auto.

The trio have seen huge rallies in their share prices over the past few ...

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