BREAKING: NIO announces that it will start trading on the Singapore Exchange on May 20

Written by Cláudio Afonso | | LinkedIn | Twitter

NIO announced on Wednesday that it expects its Class A ordinary shares to be listed and commence trading on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) on May 20, 2022.

On May 5, one day after being added to HFCAA list, NIO announced the proposed secondary listing of its Class A ordinary shares, by way of introduction on the Main Board of the Singapore Exchange Securities Trading Limited. The Company’s American depositary shares (ADS) will continue to be primarily listed and traded on the New York Stock Exchange (NYSE), the company stated.

Credit Suisse (Singapore) Limited and Goldman Sachs (Singapore) Pte. are acting as the joint issue managers, and PrimePartners Corporate Finance Pte. Ltd. is acting as the financial adviser, for the Proposed Secondary Listing, the company said.

The shares of the electric vehicle maker hit on Tuesday a new 52-week-low at $12.93, nearly 81% below its all-time-high in January 2021. Despite the recent catalysts – namely the new SUV model NIO ES7, ET7 sedan arriving European Markets and the opening of NEO Park – the stock have been struggling for more than a year.

According to the SEC form published on Monday, the Swiss National Bank has increased its position in NIO by 9.47% during the first quarter of 2022. The Bank disclosed owning 3,595,675 NIO shares valued at $75.69 million as of March 31, 2022. In early February, Swiss National Bank filed a form disclosing 3,284,575 shares by the end of 2021 representing an increase of 9.47 percent.

Earlier this week, Norwegian Norges Bank reported that sold its position on NIO dumping a total of 13,749,756 shares during the first quarter of 2022. As reported in March, Norway Central Bank had bought 3,237,003 shares in the last quarter of 2021. At the time, the buy represented an increase of 30.8 percent from the 10,512,753 shares the bank was holding by the end of the third quarter.

As of May 10, NIO had 788 institutional owners and shareholders holding a total of 670,705,982 shares. The largest shareholders include Baillie Gifford & Co, BlackRock, Vanguard Group, State Street Corp, VWIGX, and Susquehanna International Group.

Written by Cláudio Afonso | | LinkedIn | Twitter