Automotive Author：Qasim Khan Aug 03, 2021 11:50 AM (GMT+8)

The offer also includes an over-allotment option to sell a further 15 million Class A common shares, accounting for 15% of shares issued August 3.

Ideal car

The new public offering forms part of the global offering of 100 million Class A common shares of the company. Goldman Sachs and CICC are the joint sponsors of the proposed offering and UBS is the financial adviser.

The public offering price in Hong Kong will not exceed HKD 150 (approximately CNY 125) per share. 

Li Auto also said that it will use the funds raised from the offering for research and development of battery technology as well as intelligent vehicles and autonomous driving technologies. It will further expand the number of charging points available in its current markets. 

Earlier this week, Li Auto reported it had delivered 8589 units of the Li ONE in July, the first time deliveries exceeded 8000 units in a single month, up 251.3% year-on-year and 11.4% from June.

Li Auto's proposal for secondary listing comes nearly a month after its rival XPeng raised USD 1.8 billion in its Hong Kong debut. Xpeng has just recorded its highest-ever monthly delivery of 8040 EVs in July.