China’s Nio kicks off $1.3bn US IPO

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By Jonathan Breen
29 Aug 2018

Chinese electric car maker Nio launched its US IPO, looking to pocket up to $1.3bn amid strong interest from investors for stocks in the sector.

An eight-strong syndicate, led by Morgan Stanley and joint sponsors Goldman Sachs and JP Morgan, launched bookbuilding on Wednesday for the New York Stock Exchange listing.

The float comprises 160m American Depository Shares (ADS), or 15% of Nio’s enlarged share capital, and a further 24m ADS in the ...

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