Expang reduces the stock to sell after an offer of public shares

Expang reduces the stock to sell after an offer of public shares

Expang Inc.

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.

Stock XPEV,
-4.79%
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.
-5.51%
Fell and was 2.5% ahead of Monday’s opening The eighth led to a direct loss, And Neo Inc. No stock NIO,
-5.09%
The premarket fell 3.5% after shedding 20.3% last week.

ISShares MSCI China Exchange-Traded Fund MCHI,
+ 0.05%
0.9% Premarket & Futures Slide for S&P 500 Index SPX,
+ 0.88%
Decreased 0.4%.

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