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Nio Sets Ipo Terms, Seeking To Sell Up To $1.52B In Ads

by marketwatch.com posted 8months ago 64 views
Shanghai-based Nio Inc. has set the terms of its initial public offering, seeking to sell 160 million shares between $6.25 and $8.25 a American depositary share to raise up to $1.52 billion, according to a filing Tuesday. Nio, a maker of electric vehicles, filed for its IPO earlier this month, hoping to raise funds for an expansion that includes launching a compact SUV to broaden its customer base. Morgan Stanley, Goldman Sachs, and J.P. Morgan are the joint bookrunners and Nio hopes to list its ADS on the New York Stock Exchange under the symbol NIO.

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