(Bloomberg) — Chinese carmaker Li Auto Inc. raised $1.1 billion in an above-range U.S. initial public offering, adding to the market focus on electric-vehicle companies, according to terms of the deal reviewed by Bloomberg.Li Auto sold 95 million American depositary shares for $11.50 each on Wednesday after marketing them for $8 to $10. The Beijing-based company is valued in the listing at about $10 billion fully diluted, based on a calculation by Bloomberg.A representative for Li Auto declined to comment.The company joins other electric-vehicle makers in tapping the U.S. capital market. Shares of NIO Inc., a Chinese rival, have doubled …read more
Source:: Yahoo Finance
