XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading
Chinese smart electric vehicle (“Smart EV”) company, today
announced the launch of its Hong Kong public offering (the “Hong
Kong Public Offering”), which forms part of the global offering
(the “Global Offering”) of 85,000,000 new Class A ordinary shares
of the Company (the “Offer Shares”) and listing of its Class A
ordinary shares on the Main Board of The Stock Exchange of Hong
Kong Limited (the “Hong Kong Stock Exchange”) under the stock code
“9868” (the “Proposed Listing”).
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The Company’s American depositary shares (the “ADSs”), each
representing two Class A ordinary shares of the Company, will
continue to be listed and traded on the New York Stock Exchange
(“NYSE”). The Proposed Listing is a dual-primary listing of the
Class A ordinary shares of the Company on the Hong Kong Stock
Exchange. Investors in the Global Offering will only be able to
purchase Class A ordinary shares and will not be able to take
delivery of ADSs. Upon the Proposed Listing, the Class A ordinary
shares listed on the Hong Kong Stock Exchange will be convertible
with the ADSs listed on the NYSE.
The Global Offering initially comprises 4,250,000 new Class A
ordinary shares under the Hong Kong Public Offering and 80,750,000
new Class A ordinary shares for the international offering (the
“International Offering”), representing approximately 5% and 95%,
respectively, of the total number of Offer Shares in the Global
Offering, subject to reallocation and over-allotment. Subject to
the level of oversubscription in the Hong Kong Public Offering and
pursuant to the clawback mechanism as described in the Hong Kong
prospectus, the total number of Offer Shares available under the
Hong Kong Public Offering could be adjusted to up to a maximum of
17,000,000 new Class A ordinary shares, representing 20% of the
Offer Shares initially available under the Global Offering. In
addition, the Company expects to grant the international
underwriters an over-allotment option to require the Company to
issue up to an additional 12,750,000 new Class A ordinary shares in
the International Offering, representing no more than 15% of the
total number of Offer Shares initially available under the Global
Offering.
The offer price for the Hong Kong Public Offering (the “Hong
Kong Offer Price”) will be not more than HK$180.00 per share (the
“Maximum Offer Price”). The offer price for the International
Offering tranche of the Global Offering (the “International Offer
Price”) may be set higher than the Maximum Offer Price. The Company
expects to set the International Offer Price on or about June 30,
2021, Hong Kong time, by taking into consideration, among other
factors, the closing price of the ADSs on the NYSE on the last
trading day on or before June 30, 2021, Hong Kong time, and
investor demand during the marketing process. The final Hong Kong
Offer Price will be set at the lower of the final International
Offer Price and the Maximum Offer Price of HK$180.00 per share. The
Offer Shares will be traded in board lots of 100 Class A ordinary
shares.
The Company plans to use the net proceeds from the Global
Offering for expansion of its product portfolio and development of
more advanced technologies; acceleration of its business expansion,
by enhancing brand recognition, acquiring customers through
omni-channel marketing strategies and expanding its sales and
service touch points both domestically and internationally;
enhancement of production capability, including expansion of
capacity, upgrade of manufacturing facilities and development of
manufacturing technologies; and general corporate purposes,
including working capital needs.
******
Fully Electronic Application Process for the
Hong Kong Public Offering
The Company has decided to adopt a fully electronic application
process for the Hong Kong Public Offering, with no printed copies
of prospectuses or application forms. A fully electronic
application process is consistent with the way in which the
Company’s stakeholders engage and interact with each other and the
Company. The Company believes such method will also help to
mitigate the environmental impact of printing and minimize the use
of natural resources, among others. The prospectus will be made
available at the website of the Hong Kong Stock Exchange at
www.hkexnews.hk under the “HKEXnews > New Listings > New
Listing Information” section and the Company’s website at
www.xiaopeng.com.
The Company encourages applicants for the Hong Kong Public
Offering to view its prospectus and apply online through the HK
eIPO White Form service in the IPO App (which can be downloaded by
searching “IPO App” in App Store or Google Play or downloaded at
www.hkeipo.hk/IPOApp or www.tricorglobal.com/IPOApp) or at
www.hkeipo.hk, or through the CCASS EIPO service (directly or
through their brokers or custodians). The Hong Kong Public Offering
will commence at 9:00 a.m. on Friday, June 25, 2021 Hong Kong time
and will close at 12:00 noon on Wednesday, June 30, 2021 Hong Kong
time.
Potential applicants may call the enquiry hotline of Tricor
Investor Services Limited if they have any questions about making
applications in the Hong Kong Public Offering. The hotline number
is +852 3907 7333 and will be open from 9:00 a.m. to 9:00 p.m. on
Friday, June 25, 2021, Monday, June 28, 2021 and Tuesday, June 29,
2021, from 9:00 a.m. to 6:00 p.m. on Saturday, June 26, 2021 and
from 9:00 a.m. to 12:00 noon on Wednesday, June 30, 2021 Hong Kong
time.
******
J.P. Morgan Securities (Far East) Limited and Merrill Lynch
(Asia Pacific) Limited are the Joint Sponsors of the listing of the
Offer Shares on the Hong Kong Stock Exchange. J.P. Morgan
Securities (Asia Pacific) Limited, Merrill Lynch (Asia Pacific)
Limited, Citigroup Global Markets Asia Limited and CLSA Limited are
the Joint Global Coordinators of the Global Offering.
The Company’s registration statement on Form F-1 relating to the
International Offering, which contains a preliminary prospectus, is
available at the SEC’s website at www.sec.gov. The registration
statement has been filed with the SEC but has not yet become
effective. These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective. Copies of the preliminary prospectus relating to the
offering may also be obtained from J.P. Morgan Securities LLC, by
telephone at +1 (866) 803-9204 or by email at
prospectus-eq_fi@jpmchase.com; and BofA Securities, Inc., by
telephone at +1 (800) 294-1322, or by email at
dg.prospectus_requests@bofa.com.
The price of the Offer Shares of the Company may be stabilized
in accordance with the Securities and Futures (Price Stabilizing)
Rules (Chapter 571W of the Laws of Hong Kong). The details of the
intended stabilization and how it will be regulated under the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong) will be contained in the prospectus of the Company dated June
25, 2021.
The information contained on, or that may be accessed through,
the websites referenced in this press release is not incorporated
by reference into, and is not a part of, this press release.
About XPeng Inc.
XPeng is a leading Chinese smart electric vehicle company that
designs, develops, manufactures, and markets Smart EVs that appeal
to the large and growing base of technology-savvy middle-class
consumers in China. Its mission is to drive Smart EV transformation
with technology and data, shaping the mobility experience of the
future. In order to optimize its customers’ mobility experience,
XPeng develops in-house its full-stack autonomous driving
technology and in-car intelligent operating system, as well as core
vehicle systems including powertrain and the
electrification/electronic architecture. XPeng is headquartered in
Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley
and San Diego. The Company’s Smart EVs are manufactured at plants
in Zhaoqing and Zhengzhou, located in Guangdong and Henan
provinces, respectively.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the
United States Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology
such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates” and similar statements. Statements
that are not historical facts, including statements about XPeng’s
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: XPeng’s
goals and strategies; XPeng’s expansion plans; XPeng’s future
business development, financial condition and results of
operations; the trends in, and size of, China’s EV market; XPeng’s
expectations regarding demand for, and market acceptance of, its
products and services; XPeng’s expectations regarding its
relationships with customers, contract manufacturers, suppliers,
third-party service providers, strategic partners and other
stakeholders; general economic and business conditions; and
assumptions underlying or related to any of the foregoing. Further
information regarding these and other risks is included in XPeng’s
filings with the SEC. All information provided in this press
release is as of the date of this press release, and XPeng does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law.
Important Disclaimers
- The proposed Global Offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
Global Offering may be completed, or as to the actual size or terms
of the Global Offering.
- This press release is for information purposes only and does
not constitute or include any recommendation or invitation or offer
(nor is calculated to invite such a recommendation, offer or
invitation) by any person for acquisition, purchase or subscription
of the securities of the Company nor does it intend to act as a
recommendation of the sale of securities or any invitation,
solicitation or offer for acquisition, purchase or subscription of
securities in any jurisdiction. This press release should
accordingly not amount an advertisement or invitation within the
meaning of section 103(1) of the Securities and Futures Ordinance
(Chapter 571 of the laws of Hong Kong) or a prospectus or an
extract from or abridged version of a prospectus (including within
the meaning of sections 2 and 38B, respectively of the Companies
(Winding Up and Miscellaneous Provisions) Ordinance). This press
release has not been reviewed or approved by The Stock Exchange of
Hong Kong Limited or the Securities and Futures Commission of Hong
Kong. Investors should read the prospectus of the Company for
detailed information about the Company and the proposed offering
before deciding whether or not to purchase any securities of the
Company. An application to subscribe for the shares referred to in
this press release by any persons shall be made solely based on the
prospectus and the application forms to be issued by the Company on
June 25, 2021.
- No application for the shares of the Company should be made by
any person nor would such application be accepted without the
completion of a formal application form or other application
procedure that is issued with or in respect of the prospectus.
- The directors of the Company collectively and individually
accept full responsibility for the accuracy of the information
contained in this press release and confirm, having made all
reasonable enquiries, that to the best of their knowledge and
belief, there are no other facts the omission of which would make
any statement herein misleading.
This press release is issued by Wonderful Sky Financial Group
Ltd. on behalf of XPeng Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20210624005620/en/
For Investor Enquiries: IR Department XPeng Inc. Email: ir@xiaopeng.com Jenny Cai The Piacente Group Tel: +1 212-481-2050 /
+86-10-6508-0677 Email:
xpeng@tpg-ir.com
For Media
Enquiries: Marie Cheung XPeng Inc. Tel: +852 9750 5170 / +86
1550 7577 546 Email: mariecheung@xiaopeng.com
Media Relations For further information, please contact:
Wonderful Sky Financial Group Ltd. Angie Li/ Jerry Lou/Cici
Zhu Tel: +852 3970 2273 / +852 3970 2157 / +852 3977 1854 Email:
angieliy@wsfg.hk / jerrylouzh@wsfg.hk / CiciZhuX@wsfg.hk
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