Leapmotor intends to raise $800 million through Hong Kong IPO

26 Sep 2022 , 10:20 AM

Leapmotor Technology, a manufacturer of electric vehicles in China, plans to generate $800 million by selling its shares at HK$48 ($6.12) each in its Hong Kong initial public offering.

As larger deals return to Hong Kong, the Hangzhou-based company’s offering joins a group of listings of a similar magnitude. However,  the amount of money collected through IPOs this year is still down by almost 80% from the same period in 2021.

Leapmotor is a part of a sector that has generally evaded regulatory scrutiny in China, a phenomenon that has hindered the country’s larger technology sector and slowed share sales abroad.

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