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Chinese EV Maker XPeng Rises in Hong Kong Dual Listing Debut


Chinese EV Maker XPeng Rises in Hong Kong Dual Listing Debut
Filipe Pacheco and John Cheng, Bloomberg News
(Bloomberg) XPeng Inc. edged higher in its Hong Kong trading debut after becoming the first Chinese electric-vehicle maker to finish a so-called homecoming share sale that raised $1.8 billion.
The shares opened at HK$168 on Wednesday, 1.8% above their offer price of HK$165 each. The company went public in the U.S. last August, and its New York-listed shares have almost tripled from their IPO price.
XPeng’s Hong Kong debut comes as China’s expanded crackdown on the technology industry has dealt a blow to global investors. The nation’s cyberspace regulator is investigating Didi Global Inc. China’s version of Uber and two other firms that recently debuted on Wall Street. The State Council on Tuesday vowed to tighten oversight of data security and overseas listings. ....

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