MADRID, Jul 27 (EUROPA PRESS) –
The Chinese manufacturer of electric SUVs Li Auto plans to raise up to 950 million dollars (more than 800 million euros) with its IPO in the United States markets, which is expected to occur next Thursday, July 30.
The Beijing-based company plans to sell 95 million shares at a price of between $ 8 and $ 10 a share (between 6.80 and 8.50 euros), according to data presented by the company to the Stock Exchange Commission. United States values.
“This is an initial public offering of 95 million US depository shares,” explains the document presented to the US Commission, where Li Auto claims to be an “emerging growth” company.
The Asian firm has indicated that other companies, such as Hillhouse Capital, have expressed an interest in buying a total of up to 300 million dollars (255 million euros) in shares.
In this way, Li Auto will join other electric vehicle manufacturers to take advantage of the United States capital market, as is the case of NIO, another Chinese company, which almost doubled the value of its titles after its departure in 2018.
China is the world’s largest market for electric cars, but competition is starting to wipe out some brands as at least three companies have closed this year due to falling demand due to the pandemic.
Li Auto, which makes SUVs that cost between $ 21,000 and $ 70,000 (17,800 to 59,500 euros), plans to launch a premium vehicle in 2022. Founded in 2015, the manufacturer lost 77 million yuan (about 9 million euros) through March, a fifth of the losses it registered in the same period of 2019.