Chinese EV Maker NIO Raises $1B In US IPO

Chinese electric vehicle start-up NIO Inc. officially entered the U.S. stock market with a US$1 billion initial public offering (IPO), becoming the first Chinese electric vehicle firm to go public in America. NIO announced the pricing of its IPO of 160 million American depositary shares (ADSs) at a price to the public of US$6.26 per ADS for a total offering size of approximately US$1.0 billion, assuming the underwriters do not exercise their option to purchase additional ADSs. NIO’s stock price …

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