US asset manager Neuberger Berman Group filed a 13F-HR/A form on Monday disclosing ownership of 536,915 shares of NIO valued at $11.3 million by the end of the first quarter of the year. The firm had ended 2021 holding 377,636 NIO shares (as disclosed in February) which represents a 42.18 percent increase of its holdings quarter-over-quarter.
The firm started investing in the Chinese EV maker during the first months of trading in the NYSE ending 2018 with 851,373 shares, as shown on the form filed in early 2019. Although, NB sold its position in the second quarter of 2019 and got back in at nearly 3 times higher prices in the last quarter of 2020 when added 43,287 shares.
Neuberger Berman was founded in 1939 and is a private, independent, employee-owned investment manager—a rare structure for a large asset management firm, almost all of which are either public or owned by other financial institutions, the firm states.
As of May 24, NIO has 737 institutional owners and shareholders holding a total of 571,727,188 shares. Among the largest shareholders there are Baillie Gifford & Co, BlackRock, Vanguard Group Inc, VWIGX, State Street Corp, Goldman Sachs Group, VEIEX, and Susquehanna International Group.
After the 2022 Beijing Auto Show being delayed in April due to the Covid-19 cases surge in China, NIO is now being forced to postpone one more time the official launch of the NIO ES7 SUV. According to Mr. Lihong, NIO‘s Co-funder, Director and President, the company will unveil the SUV model as soon as the Shanghai measures ease, which is expected to happen in mid-June. When asked about the new date for the NIO ES7 launch, NIO’s Co-Founder said “When Shanghai (lockdown) is unblocked, it will be done right away.
NIO announced on Monday that it will be included in the Hang Seng TECH Index as a constituent stock, effective June 13, 2022, according to the announcement made by the Hang Seng Indexes Company Limited on Friday.
The electric vehicle maker started being traded on the Singapore Stock Exchange on Friday, an event live streamed by the NIO on its social platforms. CEO William Bin Li unveiled that the company aims to establish a research and development center for artificial intelligence (AI) and autonomous driving (AD) in Singapore. In addition, NIO plans to research institutions to further broaden and enhance its global R&D capabilities while details on the expansion to the country in terms of sales were not mentioned.