Chinese electric vehicle maker Li Auto Inc LI.O is set to raise $1.1 billion in its initial public offering (IPO) in New York after selling shares to investors for more than it expected, people familiar with the matter said on Wednesday.
Li Auto priced 95 million shares at $11.5 per share, the sources said. The company initially aimed to sell these shares at between $8 and $10 per share.
The sources requested anonymity ahead of an official announcement. Li Auto did not immediately respond to a request for comment.