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Chinese EV maker Xpeng shares jump 54% in NYSE debut – Metro US

Chinese EV maker Xpeng shares jump 54% in NYSE debut

An XPeng Inc. P7 performance electric car outside the New
An XPeng Inc. P7 performance electric car outside the New York Stock Exchange (NYSE) ahead of the Chinese company’s IPO in New York

(Reuters) – Chinese electric vehicle maker Xpeng Inc’s 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 and Xiaomi Corp 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)

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