Nio is planning to list its shares in Singapore. This would be the Chinese electric carmaker’s third listing location, following its IPO in New York and a secondary listing in Hong Kong.
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Chinese electric carmaker Nio said Friday that it’s planning a secondary share listing in Singapore.
Nio, which is listed on the New York Stock Exchange, also carried out a secondary listing in Hong Kong in March. Singapore would be the third exchange that Nio’s shares are trading on.
The move comes as Nio and dozens of other U.S.-listed Chinese companies were added to a U.S. Securities and Exchange Commission list of firms facing a possible desilting from American exchanges.
Former President Donald Trump passed a law in 2020 that required U.S.-listed foreign companies to comply with higher auditing standards. Those that failed to follow the rules could be delisted.
But Nio’s move to list on a third venue, particularly Singapore, is a unique move — one that’s not been followed by many other Chinese firms yet.