NIO announces proposed secondary listing in Hong Kong, with shares to start trading on March 10

Shanghai (Gasgoo)- Chinese electric vehicle startup NIO today announced the proposed secondary listing on the Main Board of The Stock Exchange of Hong Kong Limited and its shares are expected to start trading in Hong Kong on March 10, 2022, the company said this morning.  

NIO will become the third Hong Kong-listed Chinese electric vehicle startup, following XPeng and Li Auto. But NIO adopts the secondary listing of its Class A ordinary shares, par value US$0.00025 per share (the “Shares”) by way of introduction on the Main Board of the SEHK while the other two startups adopted dual primary listings. The Company’s American depositary shares (the “ADSs”), each representing one Share, will continue to be primarily listed and traded on the New York Stock Exchange (the “NYSE”).

In a press release, NIO said it had received a letter of in-principle approval to the listing application from the SEHK on February 28, 2022 (Beijing/Hong Kong Time). Subject to final listing approval from the SEHK, the Shares are expected to commence trading on the Main Board of the SEHK on March 10, 2022 (Beijing/Hong Kong Time) under the stock code “9866”. The Shares will be traded in board lots of 10 Shares. Upon listing on the Main Board of the SEHK, the Shares listed on the Main Board of the SEHK will be fully fungible with the ADSs listed on the NYSE.

For the listing on the Main Board of the SEHK, Morgan Stanley Asia Limited, Credit Suisse (Hong Kong) Limited and China International Capital Corporation Hong Kong Securities Limited act as the joint sponsors. Besides, NIO has appointed Morgan Stanley Hong Kong Securities Limited as the designated securities dealer and China International Capital Corporation Hong Kong Securities Limited as alternate designated securities dealer.

What’s more, NIO said in a listing document that the company has also applied for secondary listing on the Main Board of Singapore Exchange Securities Trading Limited. The listing in Singapore will also be conducted by way of introduction. The application was undergoing review.