NIO to list on the Singapore Exchange on May 20

NIO to list on the Singapore Exchange on May 20

Business

NIO said it has filed a Form 6-K with the U.S. Securities and Exchange Commission regarding the presentation documents and certain supplemental information submitted for the proposed secondary listing of the company’s Class A ordinary shares on the Main Board of SGX-ST.

According to the data, NIO has applied to the SGX for a secondary listing by way of introduction, and the New York Stock Exchange will continue to be its main listing venue. It is expected that the listing will not lead to a large number of new compliance or disclosure obligations. NIO expects its shares to start trading on the SGX Mainboard on May 20, 2022.

In addition, supplementary information and disclose the latest financial information of the company. As of February 28, 2022, NIO had cash and cash equivalents, restricted cash and short-term investments totaling 52.65 billion yuan. In terms of share ownership, Li Bin has 44.5% of the voting rights, and the Tencent entity has 5.6% of the voting rights.

 

Weilai adopts the introduction and listing method on the SGX, which does not involve the issuance of new shares and fundraising. NIO’s Class A shares listed on the SGX are fully convertible with its NYSE-listed American Depositary Shares.

According to the data, in November 2014, Weilai was founded by Li Bin, and received investment from dozens of well-known institutions such as Temasek, Baidu Capital, Sequoia, Hopu, Lenovo Group, Warburg Pincus, TPG, GIC, IDG, and Joy Capital; On September 12, 2018, NIO was successfully listed on the New York Stock Exchange; on March 10, 2022, NIO officially landed on the Hong Kong Stock Exchange.

If it successfully landed on the SGX this time, NIO will also become the first smart electric vehicle company listed in three places.

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