XPeng Inc. Announces Pricing of Global Offering
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”).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210630005570/en/
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 email@example.com; and BofA Securities, Inc., by telephone at +1 (800) 294-1322, or by email at firstname.lastname@example.org.
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.
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
For Investor Enquiries:
The Piacente Group
Tel: +1 212 481 2050 / +86 10 6508 0677
For Media Enquiries:
Tel: +852 9750 5170 / +86 1550 7577 546
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: email@example.com / firstname.lastname@example.org / CiciZhuX@wsfg.hk
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
New Harris Poll: Cybersecurity Fears May Stall COVID-19 Digital Vaccine Card Adoption in the United Kingdom, Identity Theft and Fake Cards Top List of Concerns29.7.2021 17:02:00 CEST | Press release
Anomali, the leader in intelligence-driven cybersecurity solutions, today announced availability of its latest survey conducted by The Harris Poll. The study, which gathered responses from more than 1,000 adults aged 18 and over in the United Kingdom, reveals that more than three-quarters of British adults have cybersecurity fears around the use of COVID-19 digital vaccination cards. Additional findings showed which entities respondents believe are responsible for protecting them against cyberattacks and who they believe the most likely culprits will be. A majority of respondents predict that a disruptive cyberattack will follow digital vaccine card adoption, findings also reveal confidence levels when it comes to how prepared the nation is to mount a defense. Among key findings: 76% have cybersecurity concerns related to COVID-19 digital vaccination cards. Identity theft topped the list at 51%, with fake vaccine cards that could be used to hack smartphones (44%) and data breaches (45%
QuadraGen Announces the Launch of Its Next Generation Commercial Loan Processing SaaS Platform and Edward Ho Joins As Chairman29.7.2021 16:00:00 CEST | Press release
QuadraGen announces the launch of its next generation commercial loan servicing SaaS platform to help financial institutions transform their complex loan processing capabilities. The QuadraGen Platform supports various areas of loan operations, enabling more efficient and effective processing of loan information, risk management, and decision-making. The QuadraGen SaaS platform consists of a suite of independently deployable microservices that augment existing technology, filling in gaps where processes and functions are not well executed, or replacing legacy capabilities with its next generation software. QuadraGen’s key differentiator is its team of experts, who have decades of commercial lending experience understanding and solving complex loan operation issues. Financial institutions are challenged by the size, complexity, number of participants, and speed of the loan markets. Many institutions use in-house or legacy systems that are inadequate for today’s ever-growing needs. Quadr
Comcast Announces Peacock Coming to Sky29.7.2021 15:30:00 CEST | Press release
Comcast today announced NBCUniversal and Sky will make Peacock available at no additional cost to nearly 20 million Sky customers in Europe. Beginning later this year, Peacock will make its international debut across Sky platforms, including Sky Q, NOW, and Sky Ticket, currently serving customers throughout the UK, Ireland, Germany, Italy, Austria, and Switzerland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210729005660/en/ “Comcast’s Xfinity has been integral to the success of our go-to-market strategy with Peacock in the U.S., and we see a similar opportunity to expand internationally with Sky,” said Jeff Shell, Chief Executive Officer, NBCUniversal. “We are excited to bring Peacock to millions of Sky customers and add incredible value to their platforms with a premium catalog of the best entertainment from across NBCUniversal that is included with their subscription. By leveraging Comcast’s Xfinity platforms in the U.
BOW Group Acquires Musart, Adding Innovative Art Marketplace to Its Offering29.7.2021 15:15:00 CEST | Press release
BOW Group today announced that it has successfully completed the acquisition of Musart.com, a fast-growing online destination to buy original artworks and licensed products. This transaction will allow BOW Group to seize new opportunities in the booming digital art market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210729005637/en/ (Photo: Musart) “BOW Group and Musart share the same passion for good yet accessible design that brings emotions to consumers at every moment of the day,” said Boris Brault, BOW Group Founder and CEO. “Together, with Musart’s unique product curation and established relationships with leading institutions, we can conquer the thriving online art market thanks to our global ecommerce, logistics and development capabilities. With Musart in our portfolio, we are expanding our offering and enhancing the growth potential of our business beyond IoT and lifestyle objects. Today, the art world is fundam
IWBI Collaborates with Leading Organizations to Launch WELL Enterprise Provider Designation29.7.2021 15:00:00 CEST | Press release
The International WELL Building Institute (IWBI) today launched the WELL Enterprise Provider (WELL EP) designation for organizations that demonstrate expertise for delivering a comprehensive suite of WELL solutions at a portfolio or enterprise scale. WELL EPs guide their clients to identify and implement WELL strategies, helping companies meet their larger business objectives in areas such as environmental, social and governance (ESG) reporting, human and social capital management, and workplace strategy and policy. Through this new program, IWBI and WELL EPs work together to more efficiently deliver the many benefits of WELL solutions across real estate portfolios and entire organizations. Companies granted the WELL EP designation offer their demonstrated expertise in WELL along with tailored resources to support the growing demand for enhanced health and well-being for employees, customers and communities. “In the wake of the COVID -19 pandemic, the exponential growth of WELL adoptio
MapleStory M Third Anniversary Culminates in Massive Update With New Angelic Buster Character and In-Game Celebration Events29.7.2021 15:00:00 CEST | Press release
MapleStory M, the free-to-play mobile MMORPG for iOS and Android, is continuing its third anniversary celebration with the introduction of Angelic Buster and a host of events for players to enjoy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210729005175/en/ MapleStory M Third Anniversary Culminates in Massive Update With New Angelic Buster Character and In-Game Celebration Events (Photo: Business Wire) Born as a disgraced Nova without a tail or magic, Angelic Buster inherited the powers of Eskalade, an ancient dragon residing inside an ancient relic of Pantheon. Equipped with a dragon shaped arm cannon, known as Soul Shooter, Angelic Buster is able to blast waves of enemies with ease. In her second slot, this Nova Pirate holds on to the power of Eskalade in a special ring, known as Soul Ring, transforming her into Angelic Buster and allowing her to use her special skills. New characters between levels 3 and 120 can level
Takeda and Frazier Healthcare Partners Announce Collaboration to Launch HilleVax, Inc. to Develop Clinical Stage Norovirus Vaccine Candidate29.7.2021 14:30:00 CEST | Press release
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (Takeda) and Frazier Healthcare Partners (Frazier) today announced a collaboration to launch HilleVax, Inc. (HilleVax), a biopharmaceutical company to develop and commercialize Takeda’s norovirus vaccine candidate. Takeda has granted a license to HilleVax for the exclusive development and commercialization rights to its norovirus vaccine candidate, HIL-214 (formerly TAK-214), worldwide outside of Japan, in exchange for upfront consideration, as well as future cash milestones and royalties on net sales. Takeda will retain commercialization rights in Japan and HilleVax will integrate certain Japan development activities into its global development. Takeda remains committed to vaccines, and this collaboration allows Takeda to focus its global resources on dengue, COVID-19, pandemic influenza and Zika, in addition to the vaccines it currently distributes in Japan. This press release features multimedia. View the full release here: h