XPeng Starts Trading On Hong Kong Exchange

July 7, 2021 11:03 AM | 1 min read

Chinese electric vehicle maker XPeng Inc XPEV marked its Hong Kong Stock Exchange debut.
It raised $1.8 billion following its dual primary listing in Hong Kong. The dual listing will offer immunity from stringent laws passed by the U.S.
Former U.S. President Donald Trump mandated U.S. regulatory inspection of audit papers of U.S.-listed foreign companies or face delisting, the Wall Street Journal reports.
Beijing recently announced stricter rules for Chinese companies listed overseas or seeking to sell shares overseas. China's move could prove to be a double whammy for companies like XPeng.
XPeng delivered 17,389 vehicles in the three months to June, marking its highest quarterly total.
Price action: XPEV shares traded lower by 6.55% at $41.12 on the last check Wednesday.