BEIJING, Aug 12 — Shares in Chinese electric carmaker Li Auto fell on its Hong Kong debut Thursday, with investors increasingly jittery over Beijing’s regulatory clampdown on tech companies and other industries. Regarded as a mainland rival to US titan Tesla, the listing makes it the latest...
BEIJING, Aug 12 — Shares in Chinese electric carmaker Li Auto fell on its Hong Kong debut Thursday, with investors increasingly jittery over Beijing’s regulatory clampdown on tech companies and other industries.
Li Auto is the second Chinese electric vehicle company to announce a secondary listing, following rival XPeng’s initial public offering last month. The firm raised US$1.5 billion in the IPO but on Thursday its shares slipped to HK$116.80 in early trade, down from its IPO price of HK118. Chinese authorities have also been busy reining in the influence of mainland industries including tech giants, and more recently its lucrative private education sector.
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