Course for China’s auto-related businesses for Hong Kong IPOs

Two Chinese new economic companies auto operator is planning an IPO in Hong Kong, testing a market that has mostly struggled this year.

Leapmotor, a Chinese electric vehicle maker, is aiming to raise $1.5 billion from a listing in Hong Kong, according to people familiar with the matter. The Hangzhou, China-based company, which counts US venture capital firm Sequoia Capital as one of its backers, filed an updated prospectus on the stock exchange on Monday, after they passed the listing hearing.

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