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NIO-SW Plans 9.5% Discounted Placing to Raise $3.5B Max.; US Shrs Slip 6%+ Pre-Mkt
Recommend 11 Positive 8 Negative 24 |
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NIO-SW (09866.HK)(NIO.US) announced that it intends to issue up to approximately 119 million Class A ordinary shares in offshore transactions outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act, subject to market conditions and other factors. The Company currently plans to use the net proceeds from the Equity Placement for research and development of smart electric vehicle technologies and new products, further strengthening balance sheet as well as general corporate purposes. According to Bloomberg, citing sales documents, the placing price is set at HKD29.46 per share. Based on NIO’s closing price of HKD32.55 on Thursday (27th), this represents a discount of approximately 9.5%, raising about HKD3.5 billion. NIO’s U.S.-listed shares last stumbled 6.64% in pre-market trading, reporting USD3.94. AAStocks Financial News |
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