Chinese EV Maker Seres Raises $1.8 Billion in Hong Kong Listing
A Seres SF5 electric vehicle at the Paris Motor Show in 2022.
Photographer: Nathan Laine/BloombergElectric-vehicle maker Seres Group Co. raised HK$14.3 billion ($1.8 billion) after pricing its Hong Kong listing at the upper limit it had set and exercising an option to increase its deal size.
The Chongqing-based company, an EV partner of Huawei Technologies Co., sold about 108.6 million shares at HK$131.50 each, according to a statement Sunday. That includes 8.4 million additional shares that expanded the offering by about 8.4%.