Xpeng’s Hong Kong shares have been added to a trading link to mainland China, referred to as the Shenzhen-Hong Kong Stock Connect, according to a report by CNBC on Wednesday.
- The strategy will allow investors based in mainland China to easily buy shares of the electric car start-up, allowing the company to grow its investor base.
- Xpeng’s Hong Kong-listed shares jumped nearly 11.5% before losing some ground. It was almost 9% higher in afternoon trade.
- Brian Gu, president of Xpeng stated that the inclusion will not only grow and diversify their investor base but also provide a chance for customers, partners, and EV and technology in China to take part in their growth story.
- The Shenzhen-Hong Kong Connect was unveiled in 2016 as a channel to make it easier for international investors to trade China’s mainland-listed shares and investors in China to purchase and sell Hong Kong-listed shares.
Xpeng has adopted an aggressive strategy in trying to grow its investor base. XPEV up +5.92%, pre-market trading