Nio Plans Stock Offering; Shares Fall Pre-Bell

MT Newswires Live

09/10

Nio (NIO) said Wednesday it is planning to offer up to about 181.8 million class A ordinary shares.

The offering includes a combination of American depositary shares and class A ordinary shares.

Underwriters have a 30-day option to purchase up to about 27.3 million additional ADSs.

Proceeds will be used to fund research and development of smart EV technologies, develop technology platforms and vehicle models, as well as for general corporate purposes.

Nio was down more than 10% in recent Wednesday pre-bell.

Price: 5.64, Change: -0.64, Percent Change: -10.19

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