Will premium EV maker Nio be listed on the Singapore Exchange?

China-based premium electric car maker Nio has just qualified for secondary listing on the Singapore Exchange (SGX). After listing, the shares will be fully fungus with American Depository Shares (ADS) listed on the New York Stock Exchange (NYSE), where Nio is already listed.

Neo said in a statement that it received a conditional eligibility-to-list letter (ETL) from SGX on May 5, and aims to meet the listing requirements by the end of the month. The Straits Times Report No funds will be raised through the sale of new shares.

At SGX, it will be listed on Class A Ordinary Shares, valued at US $ 0.00025 per share. Its ADS will initially be listed on the NYSE and will continue to be traded.

The automaker will launch three new models this year, hoping to cash in on potential growth in EV demand in the second half of 2022. The current supply chain is expected to be disrupted due to China’s zero-covid-19 policy as well as up.

In less than four years, Nio has already built 200,000 EVs By the end of this year, it will open more than 100 new stores and 50 service centers in China, as well as expand its EV battery swap network. The workforce will be multiplied and a second manufacturing base located in Newpark will be launched on the 3rd of 2022.

Outside of China, Nio will launch its products and services in more European countries, such as Germany, the Netherlands, Sweden and Denmark. It has already set foot in Norway.

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