For listed companies, inclusion in an index means that there will be passive investment flows that track the index. Chinese electric vehicle company Xpeng Motors has become the latest to be included in an international index.
Xpeng's ADS will be included in FTSE Russell's global equity indexes, including the FTSE All-World Index, the FTSE Global Large Cap Index, and the FTSE Emerging Index, on July 8, FTSE Russell said in a statement on its website Thursday.
(Source: FTSE Russell website)
The move comes as Xpeng is set to list in Hong Kong.
Xpeng is offering 85 million Class A common shares in a global offering, including an international offering of 80.75 million Class A common shares and a Hong Kong public offering of 4.25 million Class A common shares.
The company announced Wednesday that it has set the final offering price for both its international offering and its Hong Kong public offering at HK$165 per Class A common share, equivalent to approximately $42.52 per ADS. Each ADS of Xpeng represents two Class A common shares.
Xpeng is expected to commence trading in Hong Kong on Wednesday, July 7, 2021 under the stock code 9868.
As is customary for companies listed in Hong Kong, Xpeng is expected to announce the availability of the placement to investors on July 6. Investors will be able to trade on the grey market from 16:15-18:30 Beijing Time on the same day.
Previously Xpeng's local peers Nio and Li Auto were both included in FTSE Russell's global equity indexes, with Nio on September 2, 2020 and Li Auto on December 21, 2020.
(Source: FTSE Russell website)
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