NIO will live-stream its Singapore listing on its website, app and YouTube starting at 8:39 am Beijing Time on Friday.
(Image credit: Unsplash)
NIO (NYSE: NIO, HKG: 9866) will become the first automaker to list in New York, Hong Kong and Singapore at the same time with its listing in Singapore on Friday, May 20.
To mark the occasion, NIO will live-stream its Singapore listing starting at 8:39 am Beijing/Singapore Time on Friday, CnEVPost learned today.
The event will be streamed on the NIO website (nio.com), the NIO app, its video account on WeChat, Douyin, Weibo, YouTube, Facebook and several Chinese financial information platforms.
NIO has already made a secondary listing in Hong Kong by way of introduction on March 10, and the listing on the Main Board of the Singapore Exchange Securities Trading Limited will be its second secondary listing so far this year.
As in Hong Kong, NIO's move did not involve a new share issue and therefore did not result in new financing or equity dilution for investors.
Upon completion of the listing, the Singapore-listed shares will be fully fungible with the company's New York Stock Exchange (NYSE)-listed American Depositary Shares (ADSs), which will also continue to be listed and traded primarily on the NYSE, the company previously said.
NIO did not mention why it is following its Hong Kong secondary listing with another secondary listing in Singapore, although previous comments it gave during its Hong Kong listing may be indicative.
A secondary listing in Hong Kong would provide investors with more choice of trading venues and more flexible trading hours, a previous response shared with CnEVPost said, adding that it would help bring in more investors and be beneficial for the company's long-term growth.
NIO is in a world of difference from the tough times of 2019, with cash reserves already running into tens of billions of yuan.
As of February 28, 2022, NIO's cash and cash equivalents, restricted cash and short-term investments stood at RMB 52.6 billion, according to a filing it submitted to the Hong Kong Stock Exchange earlier this month
The Singapore stock market has experienced an M-shaped move so far this year, with the benchmark FTSE Straits Times Index up 2 percent for the year to Thursday.