by Li Auto, a manufacturer of electric vehicles in China, stated that it expects to raise up to $1.9 billion (1.4 billion pounds) through the secondary offering of its shares in Hong Kong.
Shares of Tesla’s competitor are already traded on the Nasdaq stock exchange in New York.
Li Auto is the latest Chinese company to raise money here in recent months.
These measures are being taken as Beijing and Washington tighten control over Chinese companies listed in the US.
The Chinese startup, which has been operating for six years, announced that it will sell 100 million shares in an initial public offering (IPO) in Hong Kong at a maximum price of 150 Hong Kong dollars (£13.85; $19.30) per share. Some of these funds could be spent on online casinos with money withdrawal to significantly increase the company’s budget after the sale of shares.
The company, also known as Li Xiang, stated that it will offer 10 million shares to Hong Kong investors, and the remaining shares will be available to investors worldwide.
The final price of the shares is expected to be announced by the end of this week.
Nearly $1.1 billion was raised by the Beijing corporation during the offering of shares on Nasdaq last year.
What is the Li One Car
On Sunday, Li Auto announced that in July, 8,589 Li One vehicles were delivered, which is a monthly high for the company.
Li One is the only model currently offered by the company. Although the gasoline engine does not drive the car’s wheels, the plug-in hybrid is equipped with a fuel tank for charging the battery and increasing the range. There is also an autopilot that allows gambling on the road in online casinos or receiving no-deposit bonuses here https://playcasino.com.ua/ru/bezdepozytni-bonusy
High sales figures are noted amidst a global semiconductor shortage, which has forced several automakers worldwide to halt production and threatens to slow down the recovery of car sales.
Chinese companies are increasingly turning to secondary listings in Hong Kong as a means of self-protection against the consequences of hostile relations between Beijing and Washington.
The Threat of Abandoning Shares of American Companies
The Securities and Exchange Commission, Wall Street’s regulator, announced on Friday that it will now require additional information from Chinese companies wishing to sell shares in the US.
This statement was made as Beijing tightened control over domestic technology and educational enterprises, as well as Chinese companies whose shares are listed in the US.
After China announced an investigation into the company and banned it from acquiring new customers just a few days after its debut on the New York Stock Exchange, the shares of the ride-hailing app Didi have plummeted in recent weeks.
In recent years, a number of dominant Chinese technology companies, including Alibaba, NetEase, and JD.com, have decided to remove secondary listings.
One of Li Auto’s competitors, Xpeng, raised about $1.8 billion last month through a secondary offering of its shares in Hong Kong.
