Friday, May 20, 2022

NIO Stock considering secondary listing in Singapore

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.

Nio Stock after close on Jan 26 2022

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.

See also  Chinese EV start-up Nio denies deleting or modifying data after fatal accident
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