EV maker Nio gets approval for Hong Kong IPO

Asian Tech Press (Feb 28) -- China-based electric car maker Nio Inc. (NYSE:NIO) has received approval to list on the Hong Kong Stock Exchange.

Nio announced on Monday that it has passed the hearings of the Hong Kong Stock Exchange and received in-principle approval for a secondary listing on the main board of the city-based stock exchange.

The company said the listing is by way of introduction and does not involve the issuance of new shares or the raising of funds. It plans to start trading its shares under the stock code "9866" on March 10, 2022.

The introduction of Nio to the Hong Kong stock market means that all three of China's leading players in EV industry have all been listed in the city, following the listing of XPeng and Li Auto last year.

As one of the three leading electric vehicle manufacturers in China, Nio delivered 66,395 units in the first three quarters of 2021. Since 2018, it has delivered a total of 142,036 vehicles as of September 30, 2021.

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