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Xiaopeng automobile's stock price soared in the United States and was favored

Xiaopeng automobile's stock price soared in the United States and was favored

Reuters reported on August 27 that Chinese electric vehicle manufacturer Xiaopeng xpev N Rose 67% on its first day of trading in the U.S. market on Thursday. This year, the IPO market is one of the best years since the Internet bubble. The capital market continues to give new returns to the stock market.

Xiaopeng automobile opened at $23.10 per unit of American Depositary Shares (ads), higher than the issue price of $15, and ended up 41.47% at $21.22. The company has received support from Chinese e-commerce giants Alibaba (Baba. N) and Xiaomi (1810. HK).

Earlier Thursday, Xiaopeng raised the IPO size by more than a third to about $1.5 billion as global investors sought companies using cleaner technologies.

This is the third Chinese electric vehicle enterprise listed in the United States in the past two years. Shares of electric vehicle manufacturers such as Tesla (tsla. O) and NiO. N have soared in recent months.

So far in 2020, companies have raised more than US $70 billion through us IPOs, exceeding US $62.5 billion in 2019, which is expected to reach the highest level since 2014 and the second highest level since 2000.

He Xiaopeng, chief executive of Xiaopeng automobile, said that the company will focus on producing cars of 150000 to 300000 yuan, which is a huge mass market in China, the world's largest automobile market. He Xiaopeng, 42, once founded UCWEB, a web browser company.

'over the past three months, investors have no longer questioned the prospects of electric vehicles and smart cars. They think this trend is inevitable. "

He told Reuters that Xiao Peng would use the funds for R & D and expanding sales.

He also said that the company invested more than 2 billion yuan in technology research and development last year, about a third of which was used for intelligent functions such as automatic driving.

Xiaopeng has sold more than 20000 electric vehicles, including the new P7 sedan and G3 sports car (Sports SUV). The company produces cars at two factories in China. He Xiaopeng said that the third model is also a car, but would not comment on the company's future sales.

The company said in a document that its IPO will be priced at $15 per unit, and the reference price given when Xiaopeng launched the transaction last Friday was $11-13 per unit.

The initial financing target of Xiaopeng automobile was US $1.11 billion. At present, investors value the company at more than $11 billion.

The deal also includes over allotment rights, allowing Xiaopeng to raise an additional $224.4 million.