Nio’s et5 electrical sedan is about to start deliveries in Sept. 2022.
Nio
Shares of Chinese electric-vehicle maker Nio started buying and selling on Hong Kong’s change on Thursday, after the corporate selected a shortcut path to itemizing that did not contain raising new funds.
That path, known as a list “by the use of introduction,” allowed Nio’s shares to start buying and selling lower than two weeks after it introduced its plan to checklist in Hong Kong. The stock closed at HK$158.90 in its first day of trading, in comparison with an in depth of $20.17 ($HK157.72) for its New York-listed American depositary shares on Wednesday.
Nio’s U.S.-listed shares rallied to shut up about 12.2% on Wednesday, however have been nonetheless down about 36.3% this 12 months via Wednesday’s shut.
Nio joins a rising checklist of U.S.-traded Chinese firms which have chosen to checklist on Hong Kong’s change in current months, seen as a strategy to hedge in opposition to the chance of being delisted from U.S. exchanges amid rising U.S.-China tensions. Two of Nio’s U.S.-traded home rivals, Xpeng and Li Auto, each listed on the Hong Kong change final 12 months.
Chinese ride-hailing firm DiDi Global, beneath strain from its house authorities, introduced plans to delist from the New York Stock Exchange in December.
Both Xpeng and Li Auto selected extra conventional paths to their Hong Kong listings, raising $2.1 billion and $1.5 billion respectively. But Nio, which ended the third quarter of 2021 with $7.3 billion in money readily available and raised an extra $1.7 billion in an at-the-market providing in New York in November, did not really feel the necessity to elevate additional money with its Hong Kong buying and selling debut.
Nio will report its fourth-quarter and full-year 2021 earnings after the U.S. markets shut March 24.