Home Automobile Nio completes Hong Kong inventory debut with out elevating new capital

Nio completes Hong Kong inventory debut with out elevating new capital

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Nio’s et5 electrical sedan is about to start deliveries in Sept. 2022.

Nio

Shares of Chinese language electric-vehicle maker Nio started buying and selling on Hong Kong’s alternate on Thursday, after the corporate selected a shortcut path to itemizing that did not contain elevating new funds.

That path, known as a list “by means of introduction,” allowed Nio’s shares to start buying and selling lower than two weeks after it introduced its plan to listing in Hong Kong. The inventory closed at HK$158.90 in its first day of trading, in comparison with a detailed of $20.17 ($HK157.72) for its New York-listed American depositary shares on Wednesday.

Nio’s U.S.-listed shares rallied to shut up about 12.2% on Wednesday, however had been nonetheless down about 36.3% this yr via Wednesday’s shut.

Nio joins a rising listing of U.S.-traded Chinese language firms which have chosen to listing on Hong Kong’s alternate in latest months, seen as a technique to hedge towards the danger of being delisted from U.S. exchanges amid rising U.S.-China tensions. Two of Nio’s U.S.-traded home rivals, Xpeng and Li Auto, each listed on the Hong Kong alternate final yr.

Chinese language ride-hailing firm DiDi Global, underneath stress from its residence authorities, introduced plans to delist from the New York Stock Exchange in December.

Each Xpeng and Li Auto selected extra conventional paths to their Hong Kong listings, elevating $2.1 billion and $1.5 billion respectively. However Nio, which ended the third quarter of 2021 with $7.3 billion in money available and raised a further $1.7 billion in an at-the-market providing in New York in November, did not really feel the necessity to elevate additional money with its Hong Kong buying and selling debut.

Nio will report its fourth-quarter and full-year 2021 earnings after the U.S. markets shut March 24.



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