Chinese EV maker Li Auto to raise up to US$950m

For Li Auto and some others, prestige and listed comparables continue to propel them toward a U.S. listing in spite of escalating Sino-U.S. geopolitical tension and negative sentiment toward Chinese firms following fallout from Luckin Coffee.

HONG KONG: Chinese electric vehicle maker Li Auto Inc, backed by food delivery giant Meituan Dianping, has launched an initial public offering of up to $950 million, in one of the biggest U.S. listings by Chinese companies this year.

The five-year-old automaker, formerly known as CHJ Automotive, is selling 95 million American depositary shares (ADDS) at an indicative range of $8 to $10 per share, according to its updated prospectus filed with the U.S. Securities and Exchange Commission on Friday.