HAMBURG, Germany, Feb. 1, 2024 /PRNewswire/ -- XCHG Limited ("XCharge Group" or the "Company"), a provider of high-power and battery-integrated charging solutions, today announced that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission related to a proposed initial public offering of American depositary shares ("ADSs") representing the Company's Class A ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. XCharge Group intends to list the ADSs representing the Company's Class A ordinary shares on the Nasdaq Stock Market under the symbol "XCH."
Deutsche Bank will act as underwriter for the proposed offering.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Deutsche Bank AG, Hong Kong Branch 60/F International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong.
A registration statement related to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About XCharge Group
XCharge Group is founded in Hamburg by an international team including ex-Tesla employees and U.S. entrepreneurs, with the vision to make EV charging carbon-free through next-gen energy solutions. XCharge - one of the first profitable global charging providers - is considered a tech pioneer by the World Economic Forum, a member of the Harvard Innovation Labs, and ranked among one of the top battery industry disrupters by The Volta Foundation.
XCharge has created one of the world's first bi-directional chargers with the battery-integrated Net Zero Series charger, capable of supplying power back to the grid when the charger is idle. XCharge is also one of the leading high-power charger providers in Europe, with its latest product, the C7, offering up to 400kW in output power.
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