NIO to be included in Hang Seng TECH Index as constituent stock
Shanghai (Gasgoo)- NIO Inc. announced on May 23 that it would be included in the Hang Seng TECH Index as a constituent stock, effective June 13, 2022.
The Hang Seng Family of Indexes is widely regarded as the most important gauge of the Hong Kong stock market. The Hang Seng TECH Index represents the 30 largest technology companies listed in Hong Kong that have high business exposure to technology themes and pass the index's screening criteria.
With NIO's inclusion, another company, ASM Pacific Technology Ltd., will be removed from the Hang Seng TECH Index, according to the announcement made by the Hang Seng Indexes Company Limited on May 20, 2022.
NIO's main startups rivals, XPeng and Li Auto, were included in the Hang Seng TECH Index in February this year.
In addition, NIO also announced the upcoming inclusion in the Hang Seng Composite Index as a constituent stock, which would come into effect on June 13, 2022 as well.
Last week, NIO successfully listed its Class A ordinary shares on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) under the stock code "NIO".
With an estimated market capitalisation of S$38.586 billion ($28.014 billion), NIO is the first auto company listed on three Exchanges, which are in New York, Hong Kong, and Singapore respectively.
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