Electric vehicle startup XPeng submits IPO prospectus for NYSE listing

2020-08-08
|
Roy Li

Electric vehicle startup XPeng submits IPO prospectus for NYSE listing

This morning, China new energy automaker Xiaopeng Motors (XPeng) formally filed IPO documents with the US Securities and Exchange Commission (SEC). It plans to be listed on the New York Stock Exchange under the stock code "XPEV".


Xiaopeng Motors did not announce the IPO price range, number of shares and financing amount.


The underwriters of Xiaopeng Motors are Bank of America Securities, Credit Suisse, JP Morgan Chase, etc. According to the prospectus, as of June 30 this year, Xiaopeng Motors had a cumulative revenue of 1.003 billion yuan, a loss of 796 million yuan, and a total of 2.183 billion yuan in cash assets.


As of now, Xiaopeng Motors expects to hold more than 8.5 billion yuan in cash assets.


According to the prospectus, He Xiaopeng is the company's largest shareholder, holding 31.6%, and the second largest shareholder is Alibaba Group, holding 14.4%. Xiaomi, GGV Capital, Morningside Venture Capital, Hillhouse, Sequoia, Qatar Investment Authority, etc. are Xiaopeng Motors shareholders.


In the first half of this year, Xiaopeng Motors sold 4,698 vehicles, down 51% year-on-year.


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