Li Auto Inc. (Nasdaq: LI) (“Li Auto” or the “Company”), an NEV
automaker in China, today announced the pricing of the global
offering (the “Global Offering”) of 100,000,000 Class A ordinary
shares of the Company (the “Offer Shares”), which comprises an
international offering (the “International Offering”) and a Hong
Kong public offering (the “Hong Kong Public Offering”).
The final offering price for both the
International Offering and the Hong Kong Public Offering (the
“Offering Price”) has been set as HK$118.00 per Offer Share. Based
on the ratio of two Class A ordinary shares per Nasdaq-listed
American depositary share (the “ADS”), the Offering Price
translates to US$30.36 per ADS based on an exchange rate of
HK$7.7746 to US$1.00.
In addition, the Company has granted an
over-allotment option to the international underwriters,
exercisable by the joint global coordinators on behalf of the
international underwriters, until the 30th day after the last day
for lodging applications under the Hong Kong Public Offering, to
require the Company to issue up to an aggregate of 15,000,000
additional Offer Shares at the Offering Price.
Subject to approval from The Stock Exchange of
Hong Kong Limited (the “Hong Kong Stock Exchange”), the Class A
ordinary shares of the Company are expected to begin trading on the
Main Board of the Hong Kong Stock Exchange on or about Thursday,
August 12, 2021 under the stock code “2015.” The Global Offering is
expected to close on the same day, subject to customary closing
conditions.
The net proceeds to the Company from the Global
Offering, after deducting underwriting discounts and commissions
and estimated offering expenses payable by the Company, are
expected to be HK$11.6 billion (assuming the over-allotment option
is not exercised). The Company plans to use the net proceeds from
the Global Offering for research and development of HPC BEV
technologies, platforms, and future models, intelligent vehicle and
autonomous driving technologies, and future EREV models; expansion
of production capacity, retail stores, delivery and servicing
centers, roll-out of HPC network, and marketing and promotion; and
working capital and other general corporate purposes.
Goldman Sachs (Asia) L.L.C. and China
International Capital Corporation Hong Kong Securities Limited are
the joint sponsors, joint global coordinators, joint bookrunners,
and joint lead managers for the Global Offering. UBS AG Hong Kong
Branch is the financial advisor, joint global coordinator, joint
bookrunner, and joint lead manager for the Global Offering.
The International Offering is being made only by
means of a prospectus supplement and the accompanying prospectus.
The accompanying prospectus is included in an automatic shelf
registration statement on Form F-3 filed with the U.S. Securities
and Exchange Commission (the “SEC”) on August 2, 2021, which
automatically became effective upon filing. The registration
statement on Form F-3 and the preliminary prospectus supplement
dated August 2, 2021 are available on the SEC’s website at
http://www.sec.gov. The final prospectus supplement will be filed
with the SEC and will be available on the SEC’s website at
http://www.sec.gov. When available, copies of the final prospectus
supplement and the accompanying prospectus relating to the offering
may also be obtained from Goldman Sachs & Co. L.L.C., 200 West
Street, New York, NY 10282-2198, Attention: Prospectus Department,
by telephone at +1 (866) 471-2526 or by email at
prospectus-ny@gs.com, China International Capital Corporation Hong
Kong Securities Limited, 29th Floor, One International Finance
Centre, 1 Harbour View Street, Central, Hong Kong, by telephone at
+852 2872-2000 or by email at g_prospectus@cicc.com.cn, and UBS AG
Hong Kong Branch, 52/F, Two International Finance Centre, 8 Finance
Street, Central, Hong Kong, Equity Capital Market, by telephone at
+852 2971-8888 or by email at ol-gb+-superone@ubs.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer or an invitation to buy any
securities, nor shall there be any offer or sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction. This press release does not constitute a prospectus
(including as defined under the laws of Hong Kong) and potential
investors should read the prospectus of the Company for detailed
information about the Company and the offering, before deciding
whether or not to invest in the Company. This press release has not
been reviewed or approved by Hong Kong Stock Exchange or the
Securities and Futures Commission of Hong Kong.
The price of the Offer Shares of the Company may
be stabilized in accordance with the Securities and Futures (Price
Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). The
details of the intended stabilization and how it will be regulated
under the Securities and Futures Ordinance (Chapter 571 of the Laws
of Hong Kong) have been contained in the Hong Kong prospectus of
the Company dated August 3, 2021.
About Li Auto Inc.
Li Auto Inc. is an NEV automaker in China. The
Company designs, develops, manufactures, and sells premium smart
electric vehicles. Through its product and technology, the Company
provides families with safe and convenient products and services.
Li Auto is a pioneer in successfully commercializing EREVs in
China. Its first and currently the only commercialized model, Li
ONE, is a six-seat, large premium electric SUV equipped with a
range extension system and advanced smart vehicle solutions. The
Company started volume production of Li ONE in November 2019 and
released the 2021 Li ONE on May 25, 2021. As of July 31, 2021, the
Company delivered over 72,000 Li ONEs. The Company leverages
technology to create value for its users. It concentrates its
in-house development efforts on its proprietary range extension
system, next-generation electric vehicle technology, and smart
vehicle solutions. Beyond Li ONE, the Company aims to expand its
product line by developing new vehicles, including BEVs and EREVs,
to target a broader consumer base.
For more information, please visit:
http://ir.lixiang.com.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Li Auto may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the “SEC”), in its annual
report to shareholders, in press releases and other written
materials, and in oral statements made by its officers, directors,
or employees to third parties. Statements that are not historical
facts, including statements about Li Auto’s beliefs, plans, and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Li Auto’s strategies, future business
development, and financial condition and results of operations; Li
Auto’s limited operating history; risks associated with
extended-range electric vehicles, Li Auto’s ability to develop,
manufacture, and deliver vehicles of high quality and appeal to
customers; Li Auto’s ability to generate positive cash flow and
profits; product defects or any other failure of vehicles to
perform as expected; Li Auto’s ability to compete successfully; Li
Auto’s ability to build its brand and withstand negative publicity;
cancellation of orders for Li Auto’s vehicles; Li Auto’s ability to
develop new vehicles; and changes in consumer demand and government
incentives, subsidies, or other favorable government policies.
Further information regarding these and other risks is included in
Li Auto’s filings with the SEC. All information provided in this
press release is as of the date of this press release, and Li Auto
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
Contacts for Investors:
Li Auto Inc. Investor Relations Email:
ir@lixiang.com
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