After China-based electric vehicle maker disclosed a public disclo fur of 40 million shares, Expeng Inc. No shares fell on Monday and went on sale last week.
After falling 11.9% in the last two days and falling 23.2% last week, pre-market trading fell 7. sl%. It was the biggest weekly loss since the stock began trading on 27 Aug Gust.
The company said in a filing with the Securities and Exchange Commission that it plans to sell 40 million Class A American Depository shares (ADS) to the public, representing 80 million ordinary shares. That offer represents about 5.4% of U.S.-listed stocks, based on data provided by Faxet.
Credit Suisse, JPMorgan, Bofa Securities and Citigroup are the underwriters of this fur.
The sell-off in Expang’s stock last week was part of a broader weakness among its peers, as Some analysts downgrade ratings on appraisal concerns And other companies were also looking to sell shares.
Ltd. Auto Toe Inc. Shares of LI.
Fell and was 2.5% ahead of Monday’s opening The eighth led to a direct loss, And Neo Inc. No stock NIO,
The premarket fell 3.5% after shedding 20.3% last week.
ISShares MSCI China Exchange-Traded Fund MCHI,
0.9% Premarket & Futures Slide for S&P 500 Index SPX,
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