The Alibaba, Xiaomi, Foxconn, UCar and Duowan-backed smart electric carmaker has floated in the US through an offering valuing it in excess of $21bn.
Xpeng, the China-based electric vehicle (EV) manufacturer backed by corporates Alibaba, UCar, Xiaomi, Duowan and Foxconn, is going public today in an initial public offering sized at approximately $1.5bn.
The IPO consists of 99.7 million American Depositary Shares (ADSs), each equating to two common shares, that are being issued on the New York Stock Exchange priced at $15.00 each.
The company had originally planned to issue 85 million ADSs priced between $11 and $13 each. The IPO price will…
