Nio is organizing to listing its shares in Singapore. This would be the Chinese electric powered carmaker’s third listing site, next its IPO in New York and a secondary listing in Hong Kong.
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Chinese electric carmaker Nio explained Friday that it really is arranging a secondary share listing in Singapore.
Nio, which is shown on the New York Stock Trade, also carried out a secondary listing in Hong Kong in March. Singapore would be the 3rd exchange that Nio’s shares are investing on.
The move will come as Nio and dozens of other U.S.-stated Chinese organizations have been added to a U.S. Securities and Exchange Commission list of firms going through a probable desilting from American exchanges.
Previous President Donald Trump passed a legislation in 2020 that needed U.S.-shown foreign firms to comply with greater auditing requirements. People that failed to follow the procedures could be delisted.
To mitigate the delisting risk, major Chinese companies shown in the U.S. — these types of as Alibaba, JD.com and some others — have carried out secondary listings, predominantly in Hong Kong.
But Nio’s shift to checklist on a 3rd venue, notably Singapore, is a distinctive transfer — a person that’s not been adopted by lots of other Chinese companies nevertheless.
Nio’s rivals Xpeng and Li Automobile have equally carried out secondary listings in Hong Kong.
