Chinese EV maker Xpeng shares jump 54% in NYSE debut

August 27, 2020

(Reuters) – Chinese electric vehicle maker Xpeng Inc’s <XPEV.N> shares jumped 54% in their debut on the New York Stock Exchange on Thursday, after raising $1.5 billion in its upsized initial public offering.

Shares of Xpeng, which counts Chinese e-commerce titan Alibaba <BABA.N> and Xiaomi Corp <1810.HK> among its backers, opened at $23.10 per American Depositary Share (ADS), up from the raised offer price of $15 per ADS.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)