Nio (NIO) to Have Secondary Listing in Hong Kong

Nio Inc. (NYSE: NIO) announced Monday that the company will begin to offer shares in the Hong Kong Stock Exchange beginning March 10th. Morgan Stanley, Credit Suisse and CICC are acting as joint sponsors of the proposed move.

The move comes as regulatory risks increase in the United States and China for Chinese companies listed in New York, adding compliance challenges for businesses and investors. The Electric Car Maker said it had also applied for a “listing route” on the main board of the Singapore Stock Exchange.

NIO initially filed for a Hong Kong listing in March 2021, but that was delayed amid regulatory concerns about aspects of its structure. Rival EV manufacturers, Xpeng Inc. (NYSE: XPEV) and Li Auto Inc. (NASDAQ: LI) are also listed on the Hong Kong Exchange. However, Nio chose to list by way of introduction — an easier way for a company already listed elsewhere to join the Hong Kong market.

By Michael Elkins | [email protected]

You May Also Be Interested In

• China approves first national standard for autonomous driving, Jefferies comments
• Global Uranium Corp. to consolidate shares 10-to-1, effective Aug. 12
• Celestica raises $3.45B in equity offering at $310 per share