Xpeng is seeking to raise up to US$1.1 billion from its initial public offering on the New York Stock Exchange, as it gears up to challenge Tesla in China, the world’s largest market for electric vehicles.The smart electric carmaker, which publicly filed for an IPO earlier this month, is selling 85 million American depositary shares (ADS) within a price range of US$11 to US$13, according to the filing lodged with the US Securities and Exchange Commission on Friday.Four of Xpeng’s existing shareholders – Alibaba Group Holding, Coatue, Qatar Investment Authority and Xiaomi – have indicated an interest in purchasing up …read more
Source:: Yahoo Finance
