Li Auto Reported to File for Hong Kong Listing in May

7月17日

BEIJING, July 16 (TMTPOST)— Chinese electric vehicle (EV) maker Li Auto has already filed for dual primary listing with the Hong Kong Stock Exchange in May and appointed Glodman Sachs as one of sponsors for the deal, Tencent News learned on Friday. Li could launch the listing in the end of August, if the application procedure goes well.

As a firm listed in U.S. in less than a year, Li Auto is eager for the listing, largely due to the market fever for the renewable energy industry, people with the knowledge told the media. According to the sources, the investment climate is very likely to change a couple of years later, so if the company waits for two years to meet requirements for a secondary listing in Hong Kong, its fundraising will have more uncertainties.

Unlike second listing, dual primary listing can make Li Auto eligible for the Stock Connect regime linking mainland China and Hong Kong markets. It also means its listing status in Hong Kong will be independent from that in the United States, thus lowering regulatory risks which threaten its shares trading status. Earlier this month, Li’s domestic rival Xpeng became the first dual primary listing in Hong Kong for a company adopted a weighted voting rights structure.

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