Nio is making plans to checklist its stocks in Singapore. This will be the Chinese language electrical carmaker’s 3rd record location, following its IPO in New York and a secondary record in Hong Kong.
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Chinese language electrical carmaker Nio stated Friday that it is making plans a secondary percentage record in Singapore.
Nio, which is indexed at the New York Inventory Trade, additionally performed a secondary record in Hong Kong in March. Singapore will be the 3rd trade that Nio’s stocks are buying and selling on.
The transfer comes as Nio and dozens of alternative U.S.-listed Chinese language firms have been added to a U.S. Securities and Trade Fee checklist of companies going through a conceivable desilting from American exchanges.
Former President Donald Trump handed a regulation in 2020 that required U.S.-listed international firms to conform to upper auditing requirements. Those who didn’t apply the foundations might be delisted.
To mitigate the delisting possibility, main Chinese language firms indexed within the U.S. — comparable to Alibaba, JD.com and others — have performed secondary listings, basically in Hong Kong.
However Nio’s transfer to checklist on a 3rd venue, specifically Singapore, is a singular transfer — one that is not been adopted through many different Chinese language companies but.
Nio’s competitors Xpeng and Li Auto have each performed secondary listings in Hong Kong.