Seres Group raises $1.8bn from Hong Kong IPO

Chinese electric-vehicle (EV) maker Seres Group has raised HK$14.3bn ($1.8bn) through a Hong Kong listing, reported Bloomberg. The company set its offering at the top end of the indicated range and exercised an option to boost the deal size. Based in Chongqing, the EV maker sold roughly 108.6 million shares at HK$131.50 apiece, a total that encompass 8.4 million extra shares that increased the offering by roughly 8.4%. The price represents a 22% discount to Seres’ Shanghai closing price of 155.19 yuan o ...