(NIO) NIO was listed on Singapore Exchange Securities Trading Limited on May 20, becoming the first car company to debut in three different locations.
The stock opened at $16.9 in Singapore and traded under ticker “NIO” in the board lot sizes of 10 shares.
William Li, founder, and CEO of NIO, lauded the Singapore listing, saying it marks a new milestone in its global business development. Li promised to leverage on the advantageous position in Singapore as an international financial and technology center to enhance the EV’s footprint.
Singapore’s listing did not involve the issuance of new shares. Upon the completion of the listing, the shares will be fully fungible with the Depositary shares on the NYSE.
NIO still remains primarily listed and traded on the NYSE despite the Singapore debut. The EV maker also had, this year, made a secondary listing in Hong Kong by way of introduction.
NIO: NYSE is up +4.38%.
