(Nio) Nio Inc. has set March 10 as the day its shares will start trading on the Hong Kong Stock exchange.
The New York listed electric car maker said that its shares will be listed by a way of introduction, which implies that some of its existing shares will be available for Hong Kong trading. The company will not issue new shares or raise new funds in that regard.
Shares on the Hong Kong exchange will trade under ticker “9866.” The company has also applied for listing of its shares on the Singapore Stock Exchange, with the intention to make them interchangeable with those in Hong Kong.
Nio’s move comes amid rising regulatory concerns between Washington and Beijing, with Chinese companies listed in the US facing potential delisting.
Listing “by introduction” allows a faster debut. Nio’s move happens after Li Auto and Xpeng, other Chinese EV makers, completed dual listings in Hong Kong.
NIO: NYSE is up +1.91% on premarket.
