XPeng Inc. (“XPeng” or the “Company”) (NYSE: XPEV,
HKEX:9868.HK), a leading Chinese smart electric vehicle (“Smart
EV”) company, today announced the pricing of the global offering
(the “Global Offering”) of 85,000,000 shares (the “Offer Shares”)
which comprises an international offering (the “International
Offering”) and a Hong Kong public offering (the “Hong Kong Public
Offering”).
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The XPeng P7 fleet (Photo: Business
Wire)
The final offer price for both the International Offering and
the Hong Kong Public Offering (the "Offer Price") has been set at
HK$165.00 per Class A ordinary share. Based on the ratio of two
Class A ordinary shares per NYSE-listed American depositary share
(the "ADS"), the Offer Price translates to approximately US$42.52
per ADS based on an exchange rate of HK$7.7604 to US$1.00. Subject
to approval from The Stock Exchange of Hong Kong Limited (the “Hong
Kong Stock Exchange”), the Class A ordinary shares are expected to
begin trading on the Main Board of the Hong Kong Stock Exchange on
Wednesday, July 7, 2021, under the stock code "9868".
The gross proceeds to the Company from the Global Offering,
before deducting underwriting fees and the offering expenses, are
expected to be approximately HK$14,025.0 million (assuming the
Over-allotment Option is not exercised). In addition, the Company
has granted the Over-allotment Option to the International
Underwriters, exercisable by the Joint Representatives (and on
behalf of the International Underwriters), at any time on or before
Friday, July 30, 2021, being the 30th day after the last day for
lodging applications under the Hong Kong Public Offering, pursuant
to which the Company may be required to issue up to an aggregate of
12,750,000 Class A ordinary shares at the Offer Price.
The Company plans to use the net proceeds from the Global
Offering for expansion of its product portfolio and development of
more advanced technology; 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.
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 and Citigroup Global Markets Asia Limited are the Joint
Representatives. 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 has been filed with, and declared effective
by, the United States Securities and Exchange Commission (the
“SEC”). The International Offering is being made only by means of a
prospectus forming part of the effective registration statement.
The registration statement on Form F-1, which contains a
preliminary prospectus dated June 24, 2021, is available at the
SEC’s website at www.sec.gov. The final prospectus will be filed
with the SEC and will be available on the SEC’s website at:
http://www.sec.gov. When available, copies of the final 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) have been 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. For more information, please visit
https://en.xiaopeng.com.
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
1. 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.
2. 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 to 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). 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. 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. An application to subscribe for the shares for the Hong Kong
Public Offering referred to in this press release by any persons
shall be made solely based on the prospectus and the application
forms issued by the Company on June 25, 2021.
3. 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.
4. 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/20210630005570/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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