Nio's 820 million Class A ordinary shares, or about 58.89 percent of the total number of outstanding Class A ordinary shares, will be registered in Hong Kong by 9 am Thursday.
As its shares are about to begin trading in Hong Kong, Nio specified how many shares will be outstanding on that market.
Nio's 819,853,964 Class A ordinary shares, or about 58.89 percent of the total number of Class A ordinary shares outstanding, will be registered in Hong Kong by 9 am on the listing date, according to an announcement the company filed with the Hong Kong Stock Exchange (HKEX) today.
The company expects its Class A ordinary shares to commence trading on the HKEX on March 10.
As of today, Nio has 1,669,006,134 ordinary shares outstanding, including 1,392,212,202 Class A ordinary shares, 128,293,932 Class B ordinary shares and 148,500,000 Class C ordinary shares.
The company's designated dealer, Morgan Stanley, has built up a sufficient inventory of securities in Hong Kong to enable it to conduct trading activities during the transition period from March 10 to April 8, according to the announcement.
The designated dealer currently has borrowed and will hold a total securities inventory of 41,400,000 Class A ordinary shares, representing about 2.7 percent of the outstanding Class A ordinary shares.
The 778,453,964 Class A ordinary shares held by the ADS depositary of Nio, representing 55.91 percent of the total number of Class A ordinary shares in issue, will be removed from the principal register of shareholders in the Cayman Islands and included in the Hong Kong register of shareholders, according to the announcement.
Nio's ADSs, each of which represents one Class A ordinary share, closed at $17.97 on the NYSE on Tuesday, equivalent to a Hong Kong quotation of HK$140.50, according to the announcement.
Nio will list in Hong Kong as a secondary listing, unlike its local counterparts Xpeng and Li Auto, both of which listed in Hong Kong last year as dual primary listings.
Nio, as well as one of its largest shareholders, Tencent, will lend 41.4 million Class A ordinary shares to a designated dealer to facilitate the initial transaction, according to a previous announcement by the company.
Nio will trade in Hong Kong in board lots of 10 Class A ordinary shares each under the stock code 9866.
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