Chinese Leapmotor could raise $800 million with its Hong Kong IPO
HONG KONG (Reuters) – Chinese electric vehicle maker Zhejiang Leapmotor Technology is set to raise $800 million by pricing its shares at HK$4 ($6.12) when it lists on the Hong Kong Stock Exchange, according to two with the matter trusted sources who asked for anonymity.
This amount is lower than the $1.03 billion fundraising mentioned in the IPO prospectus, but the operation will remain the largest fundraising for 2022 on the Hong Kong Stock Exchange.
The manufacturer had previously considered raising $1.5 billion, but the group decided to scale down the size of the operation due to investors’ limited appetites.
Leapmotor did not immediately respond to a request for comment from Reuters.
Leapmotor will offer investors 130.82 million shares at a price of HK$48-62 in its IPO.
(Report Scott Murdoch, French version Matthieu Protard)
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