Li Auto estimates $14.7b net proceeds in global offering

The bulk of the proceeds will be used to fund R&D initiatives.

New energy passenger vehicles automaker, Li Auto, estimated it will generate some $14.7b in net proceeds from its global offering.

The company, based in China, will be setting its offer prices at not more than $150 per offer share.

Of the 100 million shares, 10 million will be for Hong Kong Public Offering, whilst the remaining 90 million will be for the international offering.

Some 45% of the net proceeds, or approximately $6.6b, will be earmarked for research and development in the next 12 to 36 months.

Around $2.9b of this will fund research and development (R&D) of high-power charging battery-electric vehicles technologies, platforms, and future models; $2.2b for intelligent vehicle and autonomous driving technologies.

In addition, some $1.5b will fund R&D extended-range electric passenger vehicles models in the next 12 to 30 months.

Another 45% will fund infrastructure expansion and marketing and promotion; whilst the remaining 10%, or approximately, $1.5b, will be used as working capital and other general corporate purposes to support our business operation and growth in the next 12 months.

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