Chinese EV-Maker Nio to Trade Shares in Hong Kong
Chinese electric-vehicle (EV) maker Nio Inc. has obtained pre-approval for its secondary listing on the Hong Kong Stock Exchange, where its shares are set to start trading on March 10 under the ticker “9866,” according to a statement released on Monday.
Nio has chosen to list by introduction — a way for listed firms with good compliance to trade their existing shares on another bourse. This means the New York-listed firm will not sell any fresh shares or raise any money from the move, the company said in a separate exchange filing to the Hong Kong bourse. Morgan Stanley, Credit Suisse AG, and CICC Capital are its joint sponsors.
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