General info on Xpeng Motors
About the company
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NameXpeng Motors
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IndustryAutomotive, Electric vehicles
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Employees3,001 – 4,000
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Founding Year2014
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Ticker9868
Filing Information
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IPO file date24/06/2021
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No. of shares85,000,000
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PriceHK$165 ($21,25)
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ExchangeHong Kong Stock Exchange
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BookrunnersJPMorgan Chase, Bank of America Securities
IPO Details
About Xpeng
Xpeng or Xiaopeng Motors, also known as XMotors.ai, is a Chinese electric vehicle manufacturer. The company is headquartered in Guangzhou, with offices in Mountain View, California, in the U.S. and is publicly traded on the New York Stock Exchange.
Xpeng was co-founded in 2014 by Henry Xia (Xia Heng) and He Tao, former senior executives at GAC. Initial backers included: the founder of UCWeb and former Alibaba executive He Xiaopeng, namesake and current Chairman of Xpeng, and Lei Jun, the founder of Xiaomi.
IPO figures
Unlike Alibaba and JD.com, which have come to Hong Kong to do the so-called secondary listing, Xpeng will be carrying out a dual primary listing. The Hong Kong IPO, which would be the company’s second one after the one conducted in 2020 on the New York Stock Exchange, could help it raise between $1 billion - $2 billion.
Xpeng is raising money as it looks to compete in an increasingly crowded electric car market in China. Not only is it facing traditional automakers looking to boost their electric car market share, but it is also coming up against market leader Tesla and homegrown start-ups like Nio and Li Auto. The latter two are also listed in the U.S.
What is Xpeng valuation?
Over time, Xpeng conducted fundraisings, the most important being as follows:
- November 2019, Xpeng raised $400 million in a third fundraising round, which saw Xiaomi join as a strategic investor of Xpeng
- July 2020, Xpeng raised $500 million from a group of investors, including Aspex, Coatue, Hillhouse Capital and Sequoia Capital China
- August 2020, Xpeng raised an additional $400 million from a group of investors, including Alibaba, Qatar Investment Authority and Abu Dhabi’s sovereign wealth fund Mubadala.
According to CNBC, currently, Xpeng has a market capitalization of $32 billion.
Xpeng: what you need to know
- JPMorgan Chase and Bank of America will be the main banks facilitating the listing, according to CNBC
- It sells mainly in China, the world's biggest car market, where it competes with Tesla Inc and Nio
- As of May 2021, 23% of Xpeng shares are owned by He Xiaopeng, and 12% by Alibaba Group.
Sources: businesswire.com, cnbc.com, crunchbase.com, hkexnews.hk, xiaopeng.com
Summary
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Ticker9868
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PriceHK$165 ($21,25)
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ExchangeHong Kong Stock Exchange
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BookrunnersJPMorgan Chase, Bank of America Securities
Key elements
Find out the most essential numbers for Xpeng Motors IPO
YoY deliveries increase
Vehicles delivered in Q1 2021
Q1 2021 revenue
Past IPOs
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