Xpeng shares leap as EV maker signs up with Shenzhen-Hong Kong Stock Connect

Xpeng shares jump as EV maker joins Shenzhen-Hong Kong Stock Connect

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A XPeng Motor P7 electrical car is shown for sale at Wanda Plaza on May 9, 2021 in Beijing, China.

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Xpeng’s Hong Kong shares have actually been consisted of in a trading link to mainland China, referred to as the Shenzhen-Hong Kong Stock Connect.

The relocation will enable financiers based in mainland China simpler access to the electrical cars and truck start-up’s shares, possibly permitting the business to broaden its financier base.

Xpeng’s Hong Kong- noted shares increased as much as 11.5% prior to paring gains. It had to do with 9% greater in afternoon trade.

“The inclusion will not only further expand and diversify our investor base but also provide the opportunity for our customers, partners and EV and technology investors in China to participate in our exciting growth story,” Brian Gu, president of Xpeng, stated in a declaration.

The Shenzhen-Hong Kong Stock Connect was introduced in 2016 as a method to make it simpler for worldwide financiers to trade Chinese mainland-listed stocks and financiers in China’s mainland to purchase and offer Hong Kong- noted shares.

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