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XPeng to Join Hang Seng Composite Index

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GUANGZHOU, China–(BUSINESS WIRE)–XPeng Inc. (“XPeng” or the “Company”) (NYSE: XPEV, HKEX: 9868.HK), a leading Chinese smart electric vehicle (“Smart EV”) company, will be added to Hang Seng Composite Index after market close on 20 July 2021.

Hang Seng Indexes Company Limited announced on 8 July 2021 that XPeng Inc. meets the Fast Entry Rule of various indexes, and will be added to the Hang Seng Composite Index after market close on 20 July 2021. All changes will come into effect on 21 July 2021.

XPeng will also be added to the Hang Seng Composite Industry Index – Consumer Discretionary, as well as the Hang Seng Composite LargeCap Index, the Hang Seng Composite LargeCap & MidCap Index, and the Hang Seng Consumer Goods & Services Index.

The Company’s shares began trading on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) on July 7, 2021 under the stock code “9868”. XPeng’s HKEX-listed shares will be fully fungible with the Company’s American depositary shares on the New York Stock Exchange (NYSE).

XPeng’s listing on the HKEX marks an important milestone for the Company and the electric vehicle sector. Now XPeng is the world’s first Smart EV company listed on both the NYSE and HKEX, two of the leading stock exchanges in the world, constituting the first dual-primary listing of a Chinese company on the HKEX since July 2018.

“As a front runner in China’s Smart EV industry, we are delighted to be included in the Hang Seng Composite Index,” said Dr. Brian Gu, XPeng Vice Chairman and President. “Inclusion in the Hang Seng Composite Index and the primary listing status in Hong Kong are the key requirements for the Stock Connect scheme.”

This dual-primary listing not only broadens the Company’s access to capital, diversifying its investor base, but also fulfills its long-term strategic objective to be listed in its home region, with direct access to China-based investors, who are likely to be XPeng’s customers. The Stock Connect scheme is the landmark mutual market access programme linking the Hong Kong and Mainland China equity markets.

“We will focus on our strategic roadmap to achieve sustainable growth and maximize shareholder value in the long term,” Dr. Gu added.

About XPeng Inc.





 

This article was originally published by Evobsession.com. Read the original article here.
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