Shares of Li Auto Inc. /zigman2/quotes/219811686/composite LI -0.63% took an 8.5% dive in premarket trading Wednesday, after the China-based electric vehicle maker filed for a public offering of 47 million shares of its U.S.-listed stock. Each American depositary share (ADS) represents two Class A ordinary shares. The public share offering represents about 5.6% of the shares outstanding, based on data provided by FactSet. Earlier, Li Auto reported a monthly record for deliveries in November, but the stock erased earlier gains of as much as 5.1% to trade lower ahead of the open. The stock has run up 95.1% over the past three months through Tuesday, while the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI -0.37% has gained 4.2% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.77% has tacked on 2.3%.