IPOs

Chinese EV maker Xpeng prices upsized US IPO above the range at $15

Xpeng, which manufactures smart electric SUVs and sedans in China, raised $1.5 billion by offering 99.7 million ADSs at $15, above the range of $11 to $13. The company offered 14.7 million more ADSs than anticipated. Insiders and certain other investors indicated on $500 million worth of ADSs in the offering. At pricing, the company raised 47% more in proceeds than anticipated.

Xpeng plans to list on the NYSE under the symbol XPEV. Credit Suisse, J.P. Morgan and BofA Securities acted as lead managers on the deal.

The article Chinese EV maker Xpeng prices upsized US IPO above the range at $15 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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