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Seres Group Raises $1.8 Billion in Hong Kong IPO, Expanding EV Market Footprint

Seres Group Raises $1.8 Billion in Hong Kong IPO, Expanding EV Market Footprint

Author:

Global Cryptocurrency

Published:

2025-11-03 07:37:01

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BTCCSquare news:

Chinese electric vehicle manufacturer Seres Group (HKG: 9927) has secured $1.8 billion in its Hong Kong IPO, marking one of the year's largest listings in the region. The offering was oversubscribed by 8.4%, with 108.6 million shares sold at the upper price limit of HKD 131.50 per share. Trading begins November 5 under ticker HKG: 9927.

The HK listing price reflects a 22% discount to Seres' Shanghai closing price on October 31, yet stands as Hong Kong's eighth billion-dollar-plus IPO this year. Galaxy Securities and CICC jointly sponsored the deal. Proceeds will fund international expansion, building on Seres' RMB 254.8 billion ($35.8B) Shanghai market cap and 20% YTD gains.

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