NIO completes US$1.16 billion equity offering, including ADS overallotment

Beijing (Gasgoo)- On Sept. 17, Chinese new energy vehicle maker NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) announced the completion of a US$1.16 billion equity offering, involving a total of 209,090,918 Class A ordinary shares.

Photo credit: NIO

The transaction included 160,823,190 American depositary shares (ADSs), with each ADS representing one Class A ordinary share, 20,995,000 Class A ordinary shares, and 27,272,728 ADSs issued pursuant to the underwriters' full exercise of their option to purchase additional ADSs on Sept. 10.

The ADSs were sold at a public offering price of US$5.57 per ADS, while the Class A ordinary shares were issued at HK$43.36 per share. NIO said the net proceeds will be used to invest in core smart electric vehicle technologies, develop future technology platforms and models under its brands, expand its charging and battery-swapping network, strengthen its balance sheet, and support general corporate purposes.

Morgan Stanley Asia Limited, UBS Securities LLC, UBS AG Hong Kong Branch, and Deutsche Bank Hong Kong Branch acted as joint bookrunners and representatives of the underwriters for the offering.