The IPOX® Watch - Li Auto
Li Auto Inc (LI US)
Company Description
Headquartered in Beijing, Li Auto Inc (formerly known as CHJ Technologies and/or Leading Ideal Inc) is a Chinese electric SUV manufacturer founded in 2015. The automaker designs, develops, manufactures, and sells premium smart electric vehicles with a focus on the SUV segment. The company started volume production in 2019 and currently has two commercialized models including the Li ONE and Li L9 (commence delivery by August 2022).
Li Auto generates revenue primarily through vehicle sales. The company also generates income from other peripheral products sales, and value-added services provided.
IPO History
On 07/30/2020, Li Auto Inc began trading on the NASDAQ Global Select Market led by Goldman Sachs (Asia). The Chinese luxury electric SUV maker offered 95 million shares at $11.50 per share, above its expected price range ($8 - $10). Li Auto was valued at ca. $9.8 billion at offer with the 15% over-allotment option fully exercised. The shares opened at $15.50 and closed the first day higher at $16.46 (▲43.13%).
On 08/12/2021, Li Auto also completed a dual (primary) listing in Hong Kong. The company offered 100 million shares at HK$118/share and raised ca. HK$13.44 billion (ca, $1.73 billion) with the 15% over-allotment option partially exercised.
Li Auto Inc was included in the IPOX® International Index (ETF: FPXI US) on 03/21/2022, and currently weighs ca. 7.90% of the portfolio
Historical Performance
+ 41.70%
+ 16.23%
