Li Auto Inc, a Chinese electric vehicle maker, has filed Amendment No 1 to Form F-1 Registration Statement on July 24, 2020 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $855 million by offering 95 million shares at a price range of $8 to $10. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $7.9 billion.
The company designs, develops, manufactures, and sells premium electric vehicles. Unlike rival Tesla (Nasdaq: TSLA) and Nio (NYSE: NIO) pure battery electric vehicles, the company allows drivers to charge their cars with electricity or gasoline.
The Beijing, China-based company was founded in 2015 and booked $163 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq Global Market under the symbol “LI.” Goldman Sachs, Morgan Stanley, UBS Investment Bank, and CICC are underwriters of the IPO.
The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and PricewaterhouseCoopers Zhong Tian LLP as Independent Auditor.
The company plan to follow in the footsteps of Nio (NYSE: NIO), a Chinese electric car startup that completed its $1 billion IPO in September 2018.
Hopefully, the company could ride the wave of large Chinese listings including Kingsoft Cloud (Nasdaq: KC) and Dada Nexus (Nasdaq: DADA) despite the ongoing Sino-American market tensions.
#ipo #nasdaq #electricvihicle #smartcar #suv #liauto #nio #tesla
Hexcellence Consulting has experienced IPO consulting team focus on listing in US Stock Market,
namely NYSE, Nasdaq and OTC Markets.
Should you interested to list your company in US Stock Market,
please contact us at [email protected].
