NIO is considering a secondary listing in Singapore as early as this year, as its plans to list in Hong Kong face regulatory scrutiny, International Financing Review said today, citing people familiar with the matter.
International Financing Review reported last March that NIO had selected Credit Suisse and Morgan Stanley to arrange its secondary listing in Hong Kong, which would involve up to 5 percent of its share capital.
With a Hong Kong listing on hold, NIO has begun considering a Singapore listing, International Financing Review reported today.
The Singapore listing could raise about $1.9 billion, assuming the company would sell up to 5 percent of its shares, according to the report.
However, one of the people familiar with the matter said NIO would not completely abandon its plans for Hong Kong and would continue discussions with regulators there.