NIO goes public on Singapore Exchange on May 20

Shanghai (Gasgoo)- On May 20, 2022, 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 ($27.927 billion), NIO is the first auto company listed on three Exchanges, which are in New York, Hong Kong, and Singapore respectively.

Photo credit: NIO

"Today marks a new milestone for NIO. The listing on the SGX is of great importance to NIO's global business development. NIO has further strengthened its footing in the global capital markets with Singapore's strategic significance. Moreover, we will also leverage Singapore's advantageous position as an international financial and technology center. By collaborating with science and research institutions and establishing NIO's R&D center for AI and AD in Singapore, we will further broaden and enhance our global R&D footprint," said William Li, founder, chairman and chief executive officer of NIO.

On May 11, NIO announced its Class A ordinary shares, par value $0.00025 per share, were expected to trade on the SGX-ST from May 20, 2022, but it still need subject to fulfilment of the conditions set out in the eligibility-to-list letter (“ETL”) from the SGX-ST.

The statement came around one week after the startup announced that it received the 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 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”).

In Sept. 2018, NIO went public on the NYSE. The startup carried out a secondary listing in Hong Kong in March this year.

NIO now offers four EV models, namely, the ES8 SUV, the ES6 SUV, the EC6 coupe SUV, and the ET7 sedan. On December 18, 2021, NIO unveiled the ET5, a mid-size smart electric sedan, which is expected for delivery in September 2022. As of March 31, 2022, NIO has accumulated deliveries of 197,912 vehicles.

NIO currently has R&D centers and manufacturing facilities in Shanghai, Hefei, Beijing, San Jose, Munich and Oxford, and an initial sales and service network in China serving users in over 300 cities. In 2021, NIO made its overseas foray with its vehicles services offered in Norway.