Sun, 2020-07-26 00:32
HONG KONG: Chinese electric vehicle maker Li Auto Inc, backed by food delivery giant Meituan Dianping, has launched an initial public offering of up to $950 million, in one of the biggest US listings by Chinese companies this year.
The five-year-old automaker, formerly known as CHJ Automotive, is selling 95 million American depositary shares (ADDS) at an indicative range of $8 to $10 per share, according to its updated prospectus filed with the US Securities and Exchange Commission on Friday.
Each ADS represents two Class A ordinary shares.
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