Nio’s et5 electrical sedan is set to start shipments inSept 2022.
Nio
Shares of Chinese electric-vehicle maker Nio started trading on Hong Kong’s exchange on Thursday, after the business selected a faster way course to noting that didn’t include raising brand-new funds.
That course, described as a listing “by way of introduction,” permitted Nio’s shares to start trading less than 2 weeks after it revealed its strategy to list in HongKong The stock closed at HK$15890 in its very first day of trading, compared to a close of $2017 ($ HK15772) for its New York- noted American depositary shares on Wednesday.
Nio’s U.S.-listed shares rallied to close up about 12.2% on Wednesday, however were still down about 36.3% this year through Wednesday’s close.
Nio signs up with a growing list of U.S.-traded Chinese business that have actually picked to note on Hong Kong’s exchange in current months, viewed as a method to hedge versus the threat of being delisted from U.S. exchanges in the middle of growing U.S.-China stress. Two of Nio’s U.S.-traded domestic competitors, Xpeng and Li Auto, both noted on the Hong Kong exchange in 2015.
Chinese ride-hailing business DiDi Global, under pressure from its house federal government, revealed strategies to delist from the New York Stock Exchange in December.
Both Xpeng and Li Auto selected more conventional courses to their Hong Kong listings, raising $2.1 billion and $1.5 billion respectively. But Nio, which ended the 3rd quarter of 2021 with $7.3 billion in money on hand and raised an extra $1.7 billion in an at-the-market offering in New York in November, didn’t feel the requirement to raise additional money with its Hong Kong trading launching.
Nio will report its fourth-quarter and full-year 2021 profits after the U.S. markets close March 24.
