Xpeng shares jump as EV maker joins Shenzhen-Hong Kong Stock Connect

A XPeng Motor P7 electric powered automobile is displayed for sale at Wanda Plaza on May possibly 9, 2021 in Beijing, China.

VCG | Getty Photographs

Xpeng’s Hong Kong shares have been included in a investing backlink to mainland China, known as the Shenzhen-Hong Kong Stock Hook up.

The shift will make it possible for traders dependent in mainland China a lot easier access to the electrical car start out-up’s shares, possibly allowing the corporation to develop its trader base.

Xpeng’s Hong Kong-stated shares rose as substantially as 11.5% prior to paring gains. It was about 9% greater in afternoon trade.

“The inclusion will not only additional grow and diversify our trader base but also deliver the opportunity for our buyers, partners and EV and engineering investors in China to participate in our enjoyable expansion story,” Brian Gu, president of Xpeng, stated in a statement.

The Shenzhen-Hong Kong Inventory Hook up was released in 2016 as a way to make it much easier for intercontinental buyers to trade Chinese mainland-detailed stocks and buyers in China’s mainland to invest in and sell Hong Kong-outlined shares.