Harneys acted as Cayman Islands counsel to Xpeng Motors in respect of its pre-IPO series financing and US$1.5 billion listing on the New York Stock Exchange on 26 August 2020.
Xpeng Motors is one of China’s largest electric vehicle manufacturers, headquartered in Guangzhou, China. With two smart cars currently on the market, the startup is a strong contender set to intensify competition within the electronic vehicle industry.
The Harneys team was led by Partner Yin Xu with support from Senior Associate Jessie Xu. Harneys’ associated corporate and fiduciary services arm, Harneys Fiduciary, also assisted with the transaction. Simpson Thacher & Bartlett LLP provided US legal counsel.
Head of Harneys’ Transactional team in Asia, Paul Sephton, commented: “Our team is highly qualified to advise on complex cross-border transactions, and the successful completion of this IPO further highlights our ability to provide unparalleled service to our clients.” Partner Raymond Ng added: “We congratulate Xpeng Motors on its highly successful IPO and are pleased to see such strong investor interest.”
Harneys corporate team advises on complex cross-border transactions involving British Virgin Islands, Cayman Islands, Luxembourg and Cyprus corporate vehicles. The firm’s significant track record includes advising on high profile private equity transactions, landmark IPOs, as well as public and private M&A and joint ventures.