CICC Assists in the Completion of Li Auto US$862.5mn Convertible Notes Offering
On April 7, 2021 (EST), Li Auto (the “Company”, NASDAQ:LI) priced its US$862.5mn (US$112.5mn greenshoe already fully exercised) convertible notes offering. CICC acted as Joint Bookrunner (JBR) in the transaction.
This is the longest tenor and largest issue size single-tranche offshore convertible notes issuance among Chinese auto companies.
About Li Auto
As an innovator in China’s NEV market, Li Auto engages in the designing, development, manufacturing and sales of premium smart electric vehicles. Through innovations in its products, technology and business model, the Company is committed to providing safe, convenient and cost-effective mobility solutions for Chinese families. In July 2020, the Company was successfully listed on NASDAQ. Li Auto is the first company to successfully commercialize extended-range electric vehicles, or EREVs, in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The company started the volume production of Li ONE in November 2019 and delivered over 46,079 Li ONEs as of March 31, 2021. In 2020, the Company sold 32,624 Li ONEs, more than any other new energy SUV models in the market.
CICC introduced high-quality international investors to Li Auto in this transaction. Since the transaction was announced, CICC assisted the company to conduct roadshows for investors in Asia/Europe/U.S., and the efficient investor communications achieved excellent results. The transaction was highly praised by global investors and achieved multiple times of oversubscription. Since assisting Li Auto in completion of the U.S. IPO in July 2020, CICC has accompanied the Company in its growth and participated in all subsequent transactions in the capital market, including the ADS follow-on offering. As a result, CICC's high-quality services have won trust and recognition from the client. This transaction is another successful case of CICC providing a full range of high-quality onshore and offshore capital market services for Li Auto.
CICC continuously supports the development of leading enterprises in new economy business with its international and professional capability, and has provided unique and fair suggestions and high-quality services for clients in both onshore and offshore capital markets, winning trust and recognition from clients. CICC deeply tracks the development of the new energy automobile industry, firmly serves industry leaders, and contributes to green manufacturing and "Carbon Peak, Carbon Neutrality".