Chinese automaker Xiaoping Motors (Shi Motors) has applied to the US Securities and Exchange Commission to offer its shares for an IPO in the United States.
According to the Al Ain News portal, the company, in its request submitted on Friday, specified the size of the offering temporarily at about $ 100 million, which is subject to change.
This move for Shi Motors comes after its Chinese competitor, Li Auto Incorporation, also managed to raise $ 1.1 billion from its initial public offering.
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electric car manufacturers have received more investor demand in the wake of the gains made by Tesla of America and New (NIO) of China this year.
Shi Motors recently concluded the last round of financing operations worth $ 900 million, according to its request to the American Authority, including $ 100 million in investments from Mubadala in Abu Dhabi. And the same from a foreign country's sovereign fund, and the Chinese Alibaba Holding Company also contributed $ 215 million.
There are more than 150 Chinese companies registered in the United States with a market value of $ 1,200 billion in 2019, according to the figures of a specialized committee in Congress.
One of the largest is Alibaba, the Internet giant, and in 2014 it completed the largest IPO in Wall Street history, valued at $ 25 billion. < / p>
(Amazon fun knowledge)
