Simpson Thacher represented XPeng Inc. (“XPeng”) in connection with its initial public offering and listing on the New York Stock Exchange. The offering comprised 114,693,333 American Depositary Shares (“ADSs”) representing 229,386,666 Class A ordinary shares after exercise of the underwriters’ overallotment option in full. The total offering size was US$1.72 billion. Credit Suisse, J.P. Morgan and BofA Securities acted as the joint book-running managers of the offering and representatives of the underwriters.
XPeng is one of China’s leading smart electric vehicle (“Smart EV”) companies. Xpeng designs, develops, manufactures and markets Smart EVs in China. Founded in 2015, Xpeng aims to bring Smart EVs to Chinese consumers through innovation in autonomous driving, smart connectivity and core vehicle systems.
The Simpson Thacher team for the transaction included Kevin Kennedy, Celia Lam, Yi Gao, Kai Fan and Sarah Tang (Capital Markets); Jonathan Cantor and Edward Grais (Tax); Tristan Brown and Alyssa Ohanian (ECEB); and Jennie Getsin (FINRA).