SGX Securities today welcomed the secondary listing of NIO Inc. to Mainboard under the stock code “NIO”.
NIO Inc., which is primary listed on the New York Stock Exchange, is a pioneer and a leading company in the premium smart electric vehicle market. The company designs, develops, jointly manufactures, and sells premium smart electric vehicles. It focuses on innovations in autonomous driving, digital technologies, electric powertrains and batteries. NIO also differentiates itself through its continuous technological breakthroughs, such as its industry-leading battery swapping technologies, Battery as a Service, as well as its proprietary autonomous driving technologies and Autonomous Driving as a Service.
William Bin Li, Founder, Chairman and Chief Executive Officer of NIO Inc., said, “Today marks a new milestone for NIO. The listing on SGX’s securities market has further strengthened NIO’s footing in the global capital markets. Furthermore, by leveraging Singapore's advantageous position as an international innovation and technology centre, NIO plans to establish a research and development centre for artificial intelligence and autonomous driving in Singapore and to collaborate with the local science and research institutions to further broaden and enhance our global R&D capabilities.”
Pol de Win, Senior Managing Director, Head of Global Sales & Origination, SGX Group, said, “We are excited to welcome NIO Inc. to Mainboard – the first electric vehicle company to be listed in Singapore. As a global financial and capital-raising hub, SGX Securities offers a trusted, international platform with a streamlined secondary listing framework that facilitates companies listed in developed markets to secure a complementary listing here. We are well-positioned to partner NIO in its growth and sustainability ambitions, as the company taps on Singapore to broaden its access to global investors and as a launchpad to expand its business in this region.”
NIO Inc. opened at USD$16.90 today.
