XPeng (NYSE:XPEV), a Chinese electric vehicle (EV) startup, is currently offering up shares of its stock via an initial public offering (IPO).
Here’s what potential investors need to know about the XPeng IPO.
- The company is offering 99,733,334 American Depositary Shares (ADS) in the IPO for $15 each.
- Each of these ADSs represents two Class A shares of the company’s stock.
- Its stock is trading on the New York Stock Exchange under the “XPEV” ticker.
- The offer also includes a 30-day option for underwriters to purchase an additional 14,959,999 additional ADSs.
- In total, this has XPeng potentially gaining as much as $1.72 billion from the IPO.
- The XPEV started on Thursday and is set to close on Monday.
- The joint bookrunners for the IPO are Credit Suisse Securities, J.P. Morgan Securities, and BofA Securities.
- The company is focused on the creation of EVs for middle-class consumers looking for smart vehicles.
- Its headquarters is located in Guangzhou, China and it has offices in Beijing, Shanghai, Silicon Valley, and San Diego.
- The company is developing its own autonomous driving systems for its vehicles.
- To go along with this, the company creates its own operating systems for use in the EVs.
- It’s also working on its own in-house vehicle components, such as powertrains and other parts.
- The company’s current offerings include the G3 and P7 EVs.
XPEV stock was up 5.5% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.