NIO Makes NYSE Debut
September 12, New York, United States: William Li ( left, front), founder and chairman of Chinese electric vehicle startup NIO Inc., celebrates after ringing the bell as NIO stock began trading at the New York Stock Exchange ( NYSE).
The Shanghai-based company, trading under the ticker symbol NIO, announced the pricing of its IPO of 160 million American depository shares (ADSS), at 6.26 U.S. dollars per ADS for a total offering size of approximately US$1 billion, assuming underwriters do not exercise their option to purchase additional ADSS.
William Li stressed that the great potential of the Chinese market and the robust and competitive industrial base there have injected great momentum into his startup. Founded in 2014, NIO, dubbed China’s Tesla, is a pioneer in China’s premium electric vehicle market.