(Source: CnEVPost)

Following its launch on June 25, Xpeng Motors' global offering has closed and its international offering and Hong Kong public offering were both oversubscribed.

In the Hong Kong public offering, Xpeng received a total of 68,685 valid applications for 62,600,000 shares, equivalent to about 14.73 times the initial offering of 4,250,000 shares, the company said in an announcement on the Hong Kong Stock Exchange on Tuesday.

This means Xpeng was 13.73 times oversubscribed in the offering for retail investors in Hong Kong.

Xpeng passed the HKEx's listing hearing on June 23 and launched its offering at 9 am on June 25.

Xpeng offered 85 million Class A common shares in its global offering, which includes an international offering of 80.75 million Class A common shares and a Hong Kong public offering of 4.25 million Class A common shares.

The company has set the final offering price for both its international offering and its Hong Kong public offering at HK$165 per Class A common share.

For retail investors, subscribing to Xpeng shares in Hong Kong requires a 1% brokerage commission, a 0.0027% Hong Kong Securities and Futures Commission transaction fee and a 0.005% Stock Exchange transaction fee.

That means the initial cost for investors to buy Xpeng in Hong Kong would be at least HK$18,181.386.

Xpeng said on Tuesday that it estimated that it would receive net proceeds of about HK$13.78 billion from the global offering, assuming the over-allotment option is not exercised.

If the over-allotment option is exercised in full, an additional HK$2.08 billion will be received through the issuance of 12,750,000 Class A common shares.

Xpeng's international offering has also been oversubscribed, equal to approximately 8.54 times the total number of shares initially available for subscription in the international offering, the company said Tuesday.

Xpeng is expected to start trading in Hong Kong under the ticker symbol "9868" on July 7.

As is customary for Hong Kong-listed companies, Xpeng is expected to announce on July 6 that investors have been placed. Investors will be able to trade on the grey market from 16:15-18:30 Beijing Time.