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Li Auto Inc. Launched Global Offering

Today, NEV automaker in China Li Auto Inc. announced that it plans to launch its global offering of around 100,000,000 Class A ordinary shares. It includes a Hong Kong public offering of initially 10,000,000 Class A shares starting August this year. There is an international offering of 90,000,000 Class A ordinary shares with a dual-primary listing of its Class A shares.

The Company’s American shares (each of these shares representing two Class A ordinary shares in this Company) will remain traded and listed on the Nasdaq Global Select Market. Investors in the Global Offering can only purchase Class A ordinary shares. Besides, they will not be able to receive delivery of ADSs. In fact, by listing the Class A ordinary shares at the Hong Kong Stock Exchange, the Class A ordinary shares listed on the Hong Kong Stock Exchange are going to be fully fungible listed on Nasdaq.

In the Hong Kong Public Offering and the International Offering, this initial number of Class A ordinary shares represent only 10% and 90% of the total number of Class A ordinary shares. They are initially available through the Global Offering, which is subject to over-allotment and reallocation.

The “Hong Kong Offer Price” will not exceed HK$150.00 per Class A ordinary share, or US$19.28, per Class A ordinary share, which is equivalent to US$38.59 per ADS. The “International Offer Price” might be higher than the Maximum Hong Kong Offer Price. The Company will select the International Offer Price in August 2021.

The final Hong Kong Offer Price will be lower than the final International Offer Price. The Maximum Hong Kong Offer Price will be HK$155.00 per Class A ordinary share.

The Company intends to use the net proceeds for research and development of platforms, HPC BEV technologies, and future models.

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