Chinese language new-energy automobile maker Seres Group is transferring forward with a Hong Kong IPO that would elevate about $1.7 billion, with 22 cornerstone buyers committing to buy roughly 49% of the supply (about $826 million), in response to the corporate’s submitting and advertising phrases. On the indicated prime value of HK$131.50 per share, Seres would debut with a market capitalization of roughly HK$215 billion (about $27.6 billion).
Seres stated 70% of the web proceeds are earmarked for R&D—together with powertrain, clever driving and automobile structure—whereas 20% will fund abroad gross sales networks and charging infrastructure, and the remaining 10% will go to working capital. The corporate plans to ascertain about 100 expertise facilities throughout Europe and the Center East by 2026, and to co-build a supercharging community with a associate, focusing on protection of 80% of main highways in key worldwide markets.
Advertising supplies additionally reference valuation ranges primarily based on relative P/E and DCF analyses, implying a goal fairness worth in line with giant home NEV friends if the deal costs close to the highest of steering. Remaining pricing, the precise supply measurement and the buying and selling date will rely on investor demand and market circumstances.
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