Finance
Chinese EV Maker Nio Rises in Singapore Trading Debut
- Automaker is already listed in Hong Kong and New York
- Nio opted for a mechanism that doesn’t involve raising funds
A Nio Inc. showroom in Beijing.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese electric carmaker Nio Inc. debuted in the Singapore Exchange Ltd. without raising funds, giving investors a third venue to trade its shares after New York and Hong Kong.
The stock ended at $17.30 on Friday, after starting the session at $16.90. Nio opted for a listing by way of introduction, meaning it didn’t go through a traditional initial public offering process and didn’t raise proceeds. The Singapore secondary shares are fully fungible with the American ones listed on the New York Stock Exchange.