As of December 31, 2019, Hillhouse Capital no longer holds shares in Chinese electric vehicle maker Nio, according to documents submitted to the US Securities and Exchange Commission.
According to data disclosed in the second quarter of last year, Hillhouse Capital had significantly increased its Nio holdings to 41,938,300 shares. In the third quarter, Hillhouse Capital reduced its holding of Nio to 13.3689 million shares, a reduction of 68.12%.
Public information shows that in 2015, Hillhouse led the A round of $ 100 million financing of Nio, and the C round and C + round continued to follow Nio. At the time of Nio's IPO, Hillhouse Capital held a 7.5% stake, making it Nio's third largest shareholder.
Nio has been getting news lately. On February 14, Nio announced the signing of a convertible bond subscription agreement with two Asian investment funds. Under the agreement, Nio will issue convertible bonds with a sale value of $100 million to purchasers.
In addition, Nio delayed the payment of one month's wages due to the delay in resuming work by car companies. In response, Nio responded that it has now launched a voluntary thirteen salary replacement for employees with restricted stock plan.
As the only company in the "new forces of car manufacturing" to achieve an IPO, Nio's stock price has fluctuated, with a minimum approaching $1. As of press time, Nio's stock price was $3.77 per share, with a market value of $3.868 billion.