NIO plugs into Singapore Exchange

NIO plugs into Singapore Exchange

Chinese electric carmaker NIO debuted on Singapore Exchange by way of introduction without raising funds to become a triple-listed company in Singapore, the US and Hong Kong.

WongPartnership advised the issuer on Singapore Law while Skadden advised on US law. Han Kun Law Offices and Maples Group acted as PRC and Cayman Islands counsel, respectively.

Allen & Gledhill, Simpson Thacher and Commerce & Finance Law Offices advised joint issue managers Credit Suisse and Goldman Sachs on Singapore, US and PRC laws.

William Li, NIO’s founding chairman and CEO, said the company planned to set up an AI and autonomous driving R&D centre in Singapore to meet the potential of the Southeast Asian market.

“Nio has further strengthened its footing in the global capital markets with Singapore’s strategic significance,” Li said.