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Chinese electric vehicle maker Leapmotor Leapmotor debuts in Hong Kong market


Two new listings stumbled on their trading debut in Hong Kong after raising a total of $1.5 billion amid turbulent market conditions, casting a cloud over a growing pipeline of companies preparing to go public in the Asian financial center.

Shares of Zhejiang Leapmotor Technology Co., a Chinese electric vehicle maker, fell as much as 42% below their initial public offering price in their first hours of trading on Thursday. The seven-year-old company raised $800 million in its IPO, significantly less than the $1.5 billion it previously targeted, after pricing its shares at the bottom of a guided range .

wsj

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