China-based electric vehicle maker Nio is aiming to raise US$1 billion so as to fund R&D, develop future technology platforms and vehicle models.
The company, listed on the exchanges of New York, Hong Kong and Singapore, plans to expand its battery swapping and charging network and strengthen its balance sheet too.
Nio is offering more than 181.8 million shares priced at US$5.57 per American depositary shares, or ADS, as well as HK$43.36 per Class A ordinary share.
There is no Singdollar-denominated issue.
Nio has given the underwriters of this offering a 30-day option to purchase up to an additional 27.3 million ADSs, which, if exercised, will be settled solely in ADSs.
This issue is managed by Morgan Stanley Asia, UBS Securities, UBS Hong Kong and Deutsche Bank, Hong Kong Branch.
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Nio's SGX quoted shares closed at US$6.03 on Sept 10, down 1.47% for the day but up 35.2% year to date.
