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We have looked at the deal in our earlier notes, Li Auto HK Listing - Needs to be done at discount given XPeng’s poor debut and Li Auto HK Listing Quick Take - Rebounded Higher After Approval; Discount Still Needed
We covered Li Auto’s US listing in 2020:
Li Auto (理想汽车) Pre-IPO - Taking the Long Way Around
Li Auto (理想汽车): A to Visit Li Auto's Store and Find Out about the License Game
Li Auto (理想汽车) Pre-IPO - Peer Comparison - Margins May Look like BYD, but Sells like NIO
Li Auto (理想汽车) IPO - Worth a Ride, at the Low -End
Li Auto (理想汽车) Trading Update - No Mention of Hillhouse's Investment
We also covered its December 2020 follow-on offering:
Li Auto (理想汽车) Placement - Opportunistic but Still a Worth a Bet Among EV Peers
In this note, we will share our final thoughts on the deal before it lists tomorrow, 12th August, 2021.
Li Auto HK Trading - Done at a good discount, setting it up for a modest debut
Li Auto raised about US$1.52bn via a dual primary listing in Hong Kong.We have looked at the deal in our earlier notes, Li Auto HK Listing - Needs to be done at discount given XPeng’s poor debut and Li Auto HK Listing Quick Take - Rebounded Higher After Approval; Discount Still Needed
We covered Li Auto’s US listing in 2020:
Li Auto (理想汽车) Pre-IPO - Taking the Long Way Around
Li Auto (理想汽车): A to Visit Li Auto's Store and Find Out about the License Game
Li Auto (理想汽车) Pre-IPO - Peer Comparison - Margins May Look like BYD, but Sells like NIO
Li Auto (理想汽车) IPO - Worth a Ride, at the Low -End
Li Auto (理想汽车) Trading Update - No Mention of Hillhouse's Investment
We also covered its December 2020 follow-on offering:
Li Auto (理想汽车) Placement - Opportunistic but Still a Worth a Bet Among EV Peers
In this note, we will share our final thoughts on the deal before it lists tomorrow, 12th August, 2021.
Underlying
Li Auto Inc. Sponsored ADR Class A
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Zhen Zhou Toh
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