Deals
Chinese Startup NIO Considers U.S. Listing Next Year
- Tencent-backed firm also weighs sale of stake in U.S. unit
- Electric-car seeks funds to develop self-driving technology
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Chinese electric-car startup NIO is considering an initial public offering in the U.S. as soon as next year as it seeks funds to invest in areas including self-driving technology, according to people with knowledge of the matter.
The company is also weighing a sale of a stake in its U.S. business for $300 million to $400 million, which would value those operations at more than $1 billion, a person familiar with the plan said. NIO hasn’t made a final decision on an IPO or stake sale, and details could change, said the people, who asked not to be identified because the information is private.