[CNN] China's Xpeng Motors shares pop 40% in bumper New York IPO

| SENTENCE

 

 

The Alibaba-backed (BABA) Chinese electric carmaker earlier said it had raised more money than expected, despite the souring of US-China relations.

 

 

Xpeng said Thursday that it sold more than 99.7 million shares (for $15 each) (in its Wall Street debut), raising (about $1.5 billion). It had originally planned to sell 85 million shares (priced between $11 and $13).

 

 

Its stock began trading that day under the ticker XPEV, and closed at just over $21 per share.

 

 

Earlier this month, an advisory council run (by US Treasury Secretary Steven Mnuchin) recommended that regulators require greater access to the accounts (of Chinese firms seeking to list) (on US stock exchanges).

 

 

Founded in 2015, Xpeng is based in Guangzhou and also has an office in Silicon Valley.

 

 

It's not the only Chinese electric automaker courting investors in the United States. Li Auto went public on the Nasdaq last month. And shares of Nio, which once positioned itself as China's "Tesla killer," have spiked 408% in New York so far this year, according to data from Refinitiv.

 

 

 

| WORD

 

 

share : 회사에서 주주들이 소유하는 자본금의 비율을 대표하는 가장 작은 구분 ( 1 share of APPLE == 애플 한 주)

 

stock : 한 주의 주식(share)들을 하나의 펀드로 전환했을 경우에 stock

 

carmaker : 자동차 회사

 

advisory council : 자문 위원회

 

regulator : (산업,상업 분야의) 규제 기관

 

be based in : ~에 기반을 두다

 

 

 

| SOURCE

 

 

CNN : edition.cnn.com/2020/08/27/investing/xpeng-ipo-price-hnk-intl/index.html