Beijing (ZXZC)- China’s electric vehicle startup Leapmotor will be officially listed on the Hong Kong Stock Exchange on September 29, with an initial offering price of HK$48 per share. 

Photo credit: Leapmotor

According to the announcement, Leapmotor is offering around 131 million shares globally via the IPO. Net proceeds from the offering are estimated to be approximately HK$6.057 billion, after deducting the expenses of underwriting commissions, fees, and other estimated expenses paid and payable by Leapmotor and assuming that the overallotment is not exercised.

The Hong Kong public offering was not fully subscribed. A total of 3,151 valid applications for a total of 2,146,400 shares were received, representing about 0.16 times the initial number of 13,082,000 shares available for subscription under the Hong Kong public offering.

The initial offering shares offered for sale under International offering were moderately oversubscribed, amounting to approximately 2.33 times the total number of the initial offering shares available for purchase under the international offering.

A total of 49,300,600 million shares have been offered to cornerstone investors, representing approximately 37.7% of the initial offering shares available for subscription under global offering, and 4.3% of the total issued share capital of Leapmotor immediately following the completion of the global offering.