The Chinese hybrid-electric car maker listed in New York and Hong Kong is taking advantage of a rally in its share price to raise $2 billion through fresh American Depositary Shares. The stock has nearly doubled in value since mid-May. Up around 19% year-to-date, it is handily outperforming rivals Tesla , Nio , and Xpeng , – all of them down over 30% - and the CSI New Energy Vehicles index.
Shaky markets need careful pricing if they’re to regain their footing. China’s Tianqi Lithium on Thursday opened books for a share sale worth up to $1.7 billion in Hong Kong’s biggest deal this year.
Equity offerings help set mood of the Asian financial centre but several companies including insurer FWD have delayed float plans while investors fret about the impact on growth from rising prices and China’s zero-Covid lockdowns . Initial public offerings have raised just $1.5 billion so far - a tenth of their levels last year, per Refinitiv data.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese Electric Vehicle Maker Li Auto to Raise $2B From U.S. Investors in a New Stock OfferingLi Auto is raising $2 billion via an “at-the-market” offering to fund new models and technologies
Read more »
Chinese Electric Vehicle Maker Li Auto to Raise $2B From U.S. Investors in a New Stock OfferingLi Auto is raising $2 billion via an “at-the-market” offering to fund new models and technologies
Read more »
Sony, Honda team up to start new electric vehicle companyJapanese corporate titans Honda and Sony are teaming up to create a new electric vehicle company with their combination of technology and auto manufacturing.
Read more »
Watch this electric boat 'fly' above the water - CNN VideoThis startup is making waves in the boating industry -- by making almost no waves at all. Watch its electric boat 'fly' above the water.
Read more »
Cate Blanchett channels Hollywood elegance as newest Louis Vuitton ambassadorFrench fashion house Louis Vuitton has appointed a shining star as its newest ambassador.
Read more »
2024 Hyundai Ioniq 6 EV revealed with Mercedes and Porsche vibesHyundai debuted the Ioniq 6, its second electric vehicle and first electric sedan on a global platform shared with the Ioniq 5.
Read more »