NIO plans to go public on Singapore Exchange on May 20
Shanghai (Gasgoo)- NIO's Class A ordinary shares, par value $0.00025 per share, are expected to trade on the Main Board of the Singapore Exchange Securities Trading Limited (“the SGX-ST”) from May 20, 2022, the company announced today.
The newest statement came around one week after the startup announced that it received the eligibility-to-list letter (“ETL”) from the SGX-ST with regard to its proposed secondary listing by way of introduction on the Main Board of the SGX-ST (the “proposed secondary listing”).
Credit Suisse (Singapore) Limited and Goldman Sachs (Singapore) Pte. are acting as the joint issue managers, and PrimePartners Corporate Finance Pte. Ltd. is acting as the financial adviser for the upcoming Singapore listing.
Upon completion of the new public listing, the shares traded on the Main Board of the SGX-ST will be fully fungible with the company's American depositary shares (“the ADSs”) listed on the New York Stock Exchange (“the NYSE”).
NIO also noted its ADSs will continue to be primarily listed and traded on the NYSE.
In Sept. 2018, NIO went public on the NYSE. The startup carried out a secondary listing in Hong Kong in March this year. Singapore would be the third exchange on which NIO's shares are trading.
NIO's rivals—XPeng and Li Auto—have both listed their shares in Hong Kong through the dual primary listing.
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