Nio will continue to make innovations in technologies, bring superior products and experiences to its users, and create long-term value for investors, said William Li.
(Image credit: Nio)
Nio successfully listed in Hong Kong today as planned, with shares opening at a higher price than their US closing price yesterday.
Nio’s shares opened at HK$160 per share in their Hong Kong debut, about 1.5 percent higher than their US closing price on Wednesday.
The company’s US-traded shares closed Wednesday up 12.18 percent to $20.17, equivalent to HK$157.60, according to an announcement the company filed with the Hong Kong Stock Exchange today.
Shares of Nio began trading in Hong Kong today under the ticker symbol 9866, in trading units of 10 Class A ordinary shares per board lot.
“Thanks to the trust of our users, the commitment of our colleagues, and the support of our investors and partners, Nio has successfully listed on the SEHK,” said William Li, founder, chairman and chief executive officer of Nio.
“While the automotive industry is going through rapid transformation, we will continue to make innovations in technologies, bring superior products and experiences to our users, and create long-term value for our investors,” Li said.
(William Li (left), founder, chairman and CEO of Nio, and Qin Lihong, co-founder and president of Nio.)
The company announced on February 28 that it has applied to list its already issued Class A ordinary shares in Hong Kong by way of introduction. The move does not involve new share issuance and therefore does not bring in new financing.
Nio is listed in Hong Kong as a secondary listing, unlike its local counterparts Xpeng Motors and Li Auto, both of which were listed in Hong Kong last year as dual primary listings.
The move, which will provide investors with more choices of trading venues and more flexible trading hours, will help bring in more investors and is good for the company’s long-term growth, according to a previous response shared with CnEVPost.
Nio currently has ample cash reserves and no immediate need for financing in the near term, the company said on February 28.
The company had cash reserves of about RMB 47 billion ($7.46 billion) at the end of the third quarter of 2021 and closed a $2 billion financing in the fourth quarter of last year, it mentioned.
Nio, as well as one of its largest shareholders, Tencent, will lend 41.4 million Class A common shares to a designated dealer to facilitate the initial transaction.
