Report
Sumeet Singh
EUR 88.49 For Business Accounts Only

Xpeng Motors HK Listing

Xpeng Motors aims to raise up to US$1.7bn via an additional listing in Hong Kong. News about the possible listing has been doing the rounds since Mar 2021.

We have covered the US-listing in 2020. Links to our previous notes are below:

Xpeng Motors (小鹏汽车) Pre-IPO - Lots to like with Solid Backing from Investors
Xpeng Motors (小鹏汽车): Visited a Store, Fairly Priced, But with Recharging Problem
Xpeng Motors (小鹏汽车) Pre-IPO - Car Comparison and P7 Performance Test
Xpeng Motors (小鹏汽车) Pre-IPO - Peer Comparison and Valuation
Xpeng Motors (小鹏汽车) IPO - Riding the Momentum
Xpeng Motors (小鹏汽车) Trading - NIO Leading the Charge

We also covered the previous fund raising in Dec 2020:
Xpeng Motors (小鹏汽车) Placement - Level the Playing Field

In this note, we talk about the updates and deal dynamics.
Underlyings
Li Auto Inc. Sponsored ADR Class A

NIO Inc. Sponsored ADR Class A

Tesla Inc

Tesla designs, develops, manufactures, sells and leases electric vehicles and energy generation and storage systems, and provides services related to its products. The company operates as two reportable segments: automotive, which includes the design, development, manufacturing, sales, and leasing of electric vehicles as well as sales of automotive regulatory credits; and energy generation and storage, which includes the design, manufacture, installation, sales, and leasing of solar energy generation and energy storage products, services related to such products, and sales of solar energy system incentives.

XPeng Inc. ADR Sponsored Class A

Provider
Aequitas Research
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.

Analysts
Sumeet Singh

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