Listing

The move puts Nio more in line with the criteria for listing in Hong Kong, where Xpeng Motors made a similar arrangement ahead of its July 7 listing.

In addition to listing in Hong Kong, Xpeng Motors and Nio are considering a third listing in China's A-share market in the future, the People's Daily-run International Finance Daily recently reported, citing unnamed sources familiar with the matter.

Xpeng Motors moved quickly lower at the beginning of its Hong Kong trading, but then rebounded to close flat at the issue price.

Xpeng Motors is pleased to be listed in Hong Kong and believes it can be closer to local investors, and will consider listing on the A-share market in the future, Hong Kong Economic Times quoted Brian Gu, the company's vice chairman and president, as saying on Wednesday.

Following its launch on June 25, Xpeng Motors' global offering has closed and its international offering and Hong Kong public offering were both oversubscribed.

BYD announced on June 30 that its application to spin off its subsidiary BYD Semiconductor to list on the ChiNext, a NASDAQ-style subsidiary of the Shenzhen Stock Exchange, has been received by the Shenzhen Stock Exchange.

BYD Semiconductor was established in October 2004, and BYD directly holds 72.3 percent of the shares, making it the controlling shareholder of the company.

Nio and Xpeng Motors have submitted listing applications to the Hong Kong Stock Exchange, while Li Auto has not yet submitted an application, local media cls.cn said, citing sources familiar with the matter.

Nio has contacted Credit Suisse and Morgan Stanley to offer 5 percent of its total share capital in Hong Kong, the report said, citing sources who added that Nio could also go public in China's A-share market.

They each aim to sell at least 5% of their enlarged share capital in Hong Kong. Based on their New York market capitalization on Monday, proceeds could total around $5 billion.