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Chinese Tesla Rival Li Auto Moves to Raise $1.5 Billion With New Stock Offering

Chinese Tesla Rival Li Auto Moves to Raise $1.5 Billion With New Stock Offering

Chinese new-energy vehicle maker Li Auto (NASDAQ: LI) is aiming to raise about $1.5 billion via a secondary stock offering next week. Li's offering of 47 million American depositary shares has priced at $29 per share, the company said on Friday morning. The offering's underwriters — Goldman Sachs, UBS, and China International Capital Corporation — have a 30-day option to buy an additional 7.05 million shares.