November 15, 2021
Markets

China’s EV maker Xpeng gets approval to list in Hong Kong -source

Cars are displayed at EV startup Xpeng’s booth at the Beijing International Automotive Exhibition, or Auto China show, in Beijing, China September 27, 2020. REUTERS/Tingshu Wang/Files

BEIJING, June 23 (Reuters) – The listing committee of the Hong Kong Stock Exchange has approved Chinese electric vehicle maker Xpeng Inc (XPEV.N) for a dual primary listing in the Asian financial hub, a source with direct knowledge of the matter told Reuters.

A dual primary listing is different from secondary listing and will allow qualified Chinese investors to invest in the company through the Stock Connect regime linking mainland Chinese and Hong Kong markets, according to the exchange’s rules.

Reuters reported Xpeng’s Hong Kong listing plan in March, citing people familiar with the matter. Rival Nio Inc (NIO.N) and Li Auto(L87Ay.F) have similar plans, sources said.

Xpeng, which went public in New York…

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