https://wccftech.com/xpeng-nyse-xpev-pulls-off-a-successful-1-5-billion-ipo-as-scorching-demand-prompts-the-company-to-raise-the-offering-size-the-stock-commences-trading-at-23-10/

Xpeng (NYSE: XPEV), the latest Chinese EV manufacturer to tap the U.S. equity markets, has successfully listed on the New York Stock Exchange (NYSE) under the ticker symbol XPEV, capping an arduous process that began with the filing of the requisite Form F-1 with the U.S. SEC on the 7th of August.

As we reported earlier, Xpeng had originally planned to float 85 million American Depository Shares (ADS). As a refresher, American Depositary Shares (ADS) are U.S. dollar-denominated equity shares of a foreign company that can be purchased on an American stock exchange. A company listing ADS on a major American stock exchange has to adhere to the U.S. GAAP along with the same stringent level of reporting as that applicable to local companies. However, citing strong demand for its offering, Xpeng increased the flotation size to 99.7 million ADS on the eve of its listing. Bear in mind that each ADS represents two class A ordinary shares of the company.