NIO Makes NYSE De­but

China Pictorial (English) - - NEWS -

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.

by Qin Lang/xinhua

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