Kirkland & Ellis has advised the underwriters on the deal.
Li Auto Inc. (Nasdaq: LI), an innovator in China’s new energy vehicle market, completed its initial public offering of 95,000,000 American depositary shares (“ADSs”), each representing two Class A ordinary shares of the Company, at a price to the public of US$11.50 per ADS. The ADSs are expected to begin trading on the Nasdaq Global Select Market today under the symbol “LI.”
The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 14,250,000 additional ADSs.
The underwriters included Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co. LLC, UBS Securities LLC, China International Capital Corporation Hong Kong Securities Limited, Tiger Brokers (NZ) Limited and SNB Finance Holdings Limited.
The Kirkland team advising the underwriters was led by transactional partner David Zhang (Picture) and capital markets partner Steve Lin.
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