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.
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