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Xpeng (9868) has hired banks to prepare a potential Hong Kong initial public offering of its flying car unit, Bloomberg reported, citing people familiar with the matter.
The Chinese electric vehicle maker has tapped JPMorgan and Morgan Stanley to work on a listing of Xpeng Aeroht, recently rebranded internationally as Aridge, the people said.
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The unit has confidentially submitted an application to issue shares and could seek to go public as early as this year, they said.
Deliberations are ongoing, and details of the offering, including its timing, could still change.
