EV maker Seres raised approximately $1.8 billion in its Hong Kong IPO
2025-11-03 16:15
Chinese mainland EV automaker Seres Group (HKG: 9927) raised $1.8 billion in its HKSAR listing, expanding the offering by 8.4%. The company sold 108.6 million shares, which included an extra 8.4 million shares, at the upper limit IPO price of HKD 131.50 per share, after exercising an option to snowball the deal size. Seres filed for its Hong Kong listing in April, aiming to establish a platform for international capital operations, and has confirmed that the HK-listed stock will start trading on November 5 under the ticker HKG: 9927. It has been listed on the SSE (Shanghai Stock Exchange) since 2016 and has a market capitalization of nearly $35.8 billion (RMB 254.8B), gaining over 20% so far this year. The EV maker reportedly started gauging investor interest for the HK listing in October, with plans to raise between $1.5 and $2 billion. The Huawei partner met the investors in mid-October...
