As per the latest reports, the share prices for Li Auto have observed a muted start for its trading debut in the Hong Kong stock exchange market. The reports confirm that the stock for Li Auto went live on the Hong Kong stock exchange market on Thursday, August 12, 2021.
Prior to debuting through the Hong Kong stock exchange, Li Auto has already been enlisted on the Nasdaq stock exchange. Li Auto is one of the major electric car manufacturing companies that is based in China. It is one of the major electric vehicle (EV) companies in China, giving a hard time to Tesla in the country.
Following its debut in the Hong Kong stock exchange market, Li Auto sold its every single share at a price of 118 Hong Kong dollars. As a result of the sales, Li Auto managed to generate a figure of $11.6 billion in Hong Kong dollars. At the time of writing, the proceeds from the debut share sales translate to $1.49 billion.
Li Auto is not the only China-based electric vehicle manufacturing company that has gone for a dual primary listing. The term “dual primary listing” means when a company gets itself enlisted on two different stock exchanges.
According to reports, Xpeng is another electric vehicle manufacturing company based in China that was enlisted through the Nasdaq stock exchange and went for a dual primary listing. The sources confirm that Xpeng had also gone for the Hong Kong stock exchange as the dual primary listing.
Following enlistment on the Hong Kong stock exchange, Li Auto is now required to adhere to the regulations and policies being practiced both, in the USA and Hong Kong.
It has been observed that the majority of the companies that go for dual primary listings, observe almost similar kinds of share prices on both stock exchanges.
Something very has happened with the share prices for Li Auto. The data shows that the Nasdaq stock market for Li Auto traded 1% higher than the Hong Kong listing for Li Auto. As compared to the US stock market, the Asian stock market on Thursday, August 12, ended up facing a slight dip.
As of now, Li Auto has only launched one electric vehicle in the market, which is an SUV. Although the company is aiming to launch new car models in near future, for now, it has only launched the Li-One SUV. Li Auto is currently in huge competition with companies such as Xpeng and Nio, which are local EV manufacturers.
Li Auto is also aiming to compete with Tesla, which is currently the largest EV manufacturer in the entire world.
