HONG KONG, Sept 25 (Reuters) – Chinese electric vehicle maker Zhejiang Leapmotor Technology is set to raise $800 million by pricing its shares at HK$4 ($6.12) on its IPO Hong Kong Stock Exchange, according to two sources familiar with the matter who requested anonymity.
This amount is lower than the $1.03 billion fundraising as mentioned in the IPO prospectus, but the operation will remain the largest fundraising for 2022 on the Hong Kong Stock Exchange.
The manufacturer had previously considered raising 1.5 billion dollars but the group decided to reduce the size of the operation due to a limited appetite on the part of investors.
Leapmotor did not immediately respond to a request for comment from Reuters.
Leapmotor will offer investors 130.82 million shares in its IPO, priced at HK$48-62. (Report Scott Murdoch, French version Matthieu Protard)