XPeng IPO: 13 Things to Know About the Chinese EV Startup

XPeng (NYSE:XPEV), a Chinese electric vehicle (EV) startup, is currently offering up shares of its stock via an initial public offering (IPO).

Image of Expeng's (XPEV) G3 electric SUV outside a mall in China
Source: Johnnie Rik / Shutterstock.com

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.

Article printed from InvestorPlace Media, https://investorplace.com/2020/08/xpeng-ipo-things-to-know/.

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