Nio hires eight banks for IPO

COMPANIES AND MARKETS Chinese electric vehicle startup Nio has hired eight banks including Morgan Stanley and Goldman Sachs to work on a planned US stock market listing this year worth up to $2 billion, people with knowledge of the matter told Reuters. Other banks are Bank of America Merrill Lynch, Credit Suisse, Citigroup, Deutsche Bank , JPMorgan and UBS, said the people, declining to be identified as the deal details are not public. the termination of Gobee.bike service in France from Feb 24, 2018,” said Gobee.bike. “Over the months of December and January, the mass destruction of our fleet has become the new entertainment of underaged individuals,” said the company, which had rolled out 2,000 bikes in Paris alone and claimed some 150,000 users across the country. Korea continued to rise for three straight months since the central bank raised its policy rate in November last year, Bank of Korea data showed on Wednesday. Bank loan rates stood at an annualized rate of 3.69 percent in January, up 0.07 percentage points from the previous month, according to the Bank of Korea. It was the highest in nearly three years. The lending rate kept rising since the BOK raised its benchmark rate last November by a quarter percentage point to 1.5 percent, the first rate increase in almost six and a half years. the cash-strapped government accelerated borrowing. The debt stood at $45.1 billion at the end of December 2017, said the latest Quarterly Economic and Budgetary Review report from the Treasury. At the end of 2016, the East African nation’s debt stood at $38 billion, with the government accelerating borrowing from both domestic and external sources last year.