NIO announces proposed secondary listing on Singapore Exchange

Shanghai (Gasgoo)- NIO Inc. (“NIO”) announced on May 6 the proposed secondary listing of its Class A ordinary shares, par value of $0.00025, by means of introduction on the Main Board of the Singapore Exchange Securities Trading Limited (“the SGX-ST”).

The startup said it has received a conditional eligibility-to-list letter (“ETL”) from the SGX-ST on May 5, 2022 for the listing and quotation of the shares on the Main Board of the SGX-ST. Prior to the listing in Singapore, the company is expected to receive an introductory document related to the aforesaid proposed secondary listing later this month.

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.

The latest announcement came only two months after the startup announced that it had successfully listed, by way of introduction, its shares on the Main Board of the Stock Exchange of Hong Kong Limited (the "SEHK").

In Sept. 2018, NIO's shares began trading on the NYSE.