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Chinese electric vehicle maker Li Auto Inc raised $1.1 billion in its initial public offering (IPO) in New York after selling 95 million shares at $11.5 per share.
The company initially priced these shares at between $8 and $10 each.
US investor sentiment towards Chinese firms was soured by geopolitical tensions and the fallout from Chinese coffee chain Luckin Coffee Inc., which was listed on Nasdaq and found with fabricated sales accounts.
The IPO values Li Auto at around $10 billion.
Among the investors were private equity firm Hillhouse Capital, which poured in $300 million as part of the IPO.
The five-year-old automaker, formerly known as CHJ Automotive, said it would utilize most of the proceeds raised to research and develop new products and capital expenditures.
It is building Li ONE extended-range electric sport-utility vehicles in China.
Li Auto's shares will start trading on Nasdaq on Thursday.
