By Scott Murdoch
HONG KONG (Reuters) - Chinese electric vehicle maker Xpeng could raise as much as $1.275 billion from its U.S. initial public offering (IPO) after flagging that its shares would be priced at $15, two sources with direct knowledge of the matter said.
The price will be formally set on Wednesday in the United States but the indicative $15 is higher than the guidance of $11 to $13 the company gave when the transaction launched last week.
Xpeng declined to comment on the pricing of its deal.
The Alibaba-backed Xpeng will sell 85 million American Depository Shares (ADS), and at $13 would have raised $1.1 billion.
However, the target price was increased after strong demand from investors, the two ...
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