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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.