(Yicai Global) July 7 -- Xpeng Motors' stock price stood almost unchanged after the HKD14 billion (USD1.8 billion) share sale that made the firm the first Chinese premium electric vehicle startup to get listed in Hong Kong.

Xpeng's equity price [HK: 9868] fell as much as 3.5 percent intraday, after which the shares were flat at HKD165 (USD20.20) in the afternoon.

The auto firm priced the 85 million new shares at HKD165 each, or 8 percent below its upper range, in its dual primary listing in Hong Kong. Its domestic rivals Nio and Li Auto have not yet issued shares in the city. Guangzhou-based Xpeng is planning to use the listing proceeds toward its international expansion and output increase.

Formed in 2014, Xpeng went public on the New York Stock Exchange for USD15 a share last August. Its stock has more than doubled in value over the past year.

Xpeng's New York-traded shares [NYSE: XPEV] edged 0.7 percent up to USD44.05 yesterday.

In Hong Kong, Xpeng completed a dual primary listing, which is less common than a secondary listing, to meet the requirements of the mainland's two stock connect programs with the special administrative region. That means that more mainland-based investors could later be eligible to buy and sell the shares.

Xpeng was moving toward profitability last year before the costly first quarter of 2021. In the first three months of this year, its net loss widened 22 percent to CNY787 million (USD121.7 million) from a year ago. But revenue jumped more than seven times to CNY3 billion (USD463.8 million).

Last year, the firm's net loss narrowed 27 percent to CNY2.7 billion, according to its prospectus. Revenue almost tripled to CNY5.8 billion.

Editor: Emmi Laine, Xiao Yi