News Snapshot:
Zhejiang Leapmotor Tech, an electric-vehicle maker that counts Sequoia as one of its early investors, has won approval from the Hong Kong stock exchange’s listing committee for an IPO (initial public offering) in which it aims to raise between US$1 billion and US$1.5 billion, according to a person familiar with the transaction. The company will start an investor education process next week and is targeting September for the deal launch, although the timetable could still change as it is subject to market conditions, said the person, who is not authorised to speak publicly about the deal. News of the deal’s...
