Tag: hongkong

Shares of Chinese EV Maker Xpeng close flat in Hong Kong debut
Business

Shares of Chinese EV Maker Xpeng close flat in Hong Kong debut

Shares of U.S.-listed electric vehicle maker Xpeng closed flat on Wednesday in their Hong Kong debut. Xpeng issued 85 million Class A ordinary shares at a price of 165 Hong Kong dollars each. Those shares opened at 168 Hong Kong dollars, a 1.8% rise. Shortly after trading turned negative and the shares ended the day flat at 165 Hong Kong dollars. The electric carmaker is already listed in the U.S. Usually. Chinese companies listed on Wall Street will do what’s known as a secondary listing, usually in Hong Kong. This is where a company which is already listed on one exchang goes on to sell shares on another. xpeng suv But Xpeng’s share offering is a dual-primary listing. That means it will be subject to the rules and oversight of both U.S. and Hong Kong regulators. This isn’t t...