Leading Smart Electric Vehicle Company Xpeng Lists on NYSE2020-08-28
August 27, 2020, New York/Guangzhou -- XPeng Inc. (“XPeng” or the “Company”), a leading Chinese smart electric vehicle (“Smart EV”) company, started trading of its ADSs today at New York Stock Exchange (“NYSE”) under the symbol “XPEV”.
Centurium Capital RMB Fund I invested in Xpeng in 2017 and held around 3.5% of stake prior to the IPO.
The company priced its IPO of 99,733,334 American Depositary Shares (“ADSs”), each representing two Class A ordinary shares of the Company, at a public offering price of $15.00 per ADS. In addition, XPeng has granted the underwriters a 30-day option to purchase up to an aggregate of 14,959,999 additional ADSs.
The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by XPeng, will be approximately $1.5 billion, excluding any exercise of the underwriters’ option to purchase additional ADSs.
The offering is expected to close on August 31, 2020, subject to customary closing conditions.
XPeng Inc. is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future.
In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture.
XPeng is headquartered in Guangzhou, China with offices in Beijing, Shanghai, Silicon Valley, and San Diego in the U.S. and the Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou. For more information, please visit https://en.xiaopeng.com.