Shares open stronger before falling up to 3.5%Xpeng planning new product platform – execDebut “looks a little weak” – analyst
BEIJING/HONG KONG July 7 (Reuters) – Chinese electric vehicle maker Xpeng Inc (9868.HK)closed flat it its $1.8 billion Hong Kong dual primary listing on Wednesday as the company said it would develop future models based on product platforms designed for international markets.
Xpeng shares closed at HK$165, in line with its listing price, after rising by as much as 2.1% higher soon after starting trading.
The positive tone was short-lived and the shares dropped to be 3.5% below the offer price before recovering in the afternoon session.
The flat close compared with a 0.4% fall in the benchmark Hang Seng Index (.HSI) and a 1.2% drop in the Hang Seng China Enterprises Index