China's Xpeng raises $1.5b in US IPO, soars on debut
Chinese electric vehicle manufacturer Xpeng – which has a string of PE and VC investors – gained 41% on its New York trading debut after raising $1.5 billion in an upsized IPO.
The company is the third Chinese EV player to list in the US following Nio and Li Auto. It sold 99.7 million American Depository Shares (ADS) for $15 apiece, according to a statement. The prospectus originally...
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