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Li Auto Inc’s stock soared more than 50% following its debut on Nasdaq on Thursday, after the Chinese electric vehicle maker sold shares to investors in its $1.1 billion initial public offering (IPO) for a higher-than-expected price.
Li Auto prices IPO at US$11.5 a share, above the top end of the marketed range. The EV start-up’s IPO is set to be the largest in the US by a Chinese company since December 2018.