China's electric vehicle maker Li Auto surges over 50% after Nasdaq debut
New York IPO backed by food delivery giant Meituan and TikTok owner Bytedance
30 July 2020 - 20:33
Bengaluru — Li Auto's stock soared over 50% after its debut on Nasdaq on Thursday, after the Chinese electric vehicle maker sold shares to investors in its $1.1bn initial public offering (IPO) for a higher-than-expected price.
The offering of 95-million American depositary shares (ADS) was priced at $11.50 per share. The stock opened at $15.50 and extended gains to rise as much as $17.50, adding to the growing list of strong debuts in 2020...
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