Chinese EV Maker Seres Raises $1.8 Billion in Hong Kong Listing

Electric-vehicle maker Seres Group Co. raised HK$14.3 billion ($1.8 billion) after pricing its Hong Kong listing at the upper limit it had set and exercising an option to increase its deal size.

The Chongqing-based company, an EV partner of Huawei Technologies Co., sold about 108.6 million shares at HK$131.50 each, according to a statement Sunday. That includes 8.4 million additional shares that expanded the offering by about 8.4%.

The listing price reflects a 22% discount to the 155.19 yuan closing price on Friday in Shanghai, where Seres’ stock already trades.

Seres’ Hong Kong-listed shares are due to start trading ...