China’s Li Auto soars 35% in Nasdaq debut | The Mighty 790 KFGO | KFGO

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China’s Li Auto soars 35% in Nasdaq debut

Fargo, ND, USA / The Mighty 790 KFGO | KFGO

Thomson Reuters

Jul 30, 2020 | 10:58 AM

(Reuters) – Li Auto Inc’s stock popped 35% on its Nasdaq debut on Thursday after the Chinese electric vehicle maker sold shares to investors in its $1.1 billion initial public offering (IPO) for a higher-than-expected price.

The stock opened at $15.5 and extended gains in early trading to $16.75.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amy Caren Daniel)

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