Register now for FREE unlimited access to Reuters.com RegisterHONG KONG, Sept 20 (Reuters) - Chinese electric vehicle maker Zhejiang Leapmotor Technology is aiming to raise $1.03 billion in an initial public offering (IPO) launched on Tuesday, according to its regulatory filings.
The company is selling 130.82 million shares in the deal that will be the largest IPO in Hong Kong in 2022.
Leapmotor has locked five cornerstone investors - led by the Zhejiang and Jinhua industrial funds - who will buy up to $308.33 million shares, according to the filings.
Leapmotor produces four electric vehicle models that mainly target China’s middle- and lower-end mass market in a 79,500 yuan-300,000 yuan ($11,466.40-$43,269.44) price range, according to its website and prospectus filed with the Hong Kong Stock Exchange.
($1 = 7.8488 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch in Hong Kong; Editing by Cynthia Osterman and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.