Chinese EV maker Nio proposes a secondary listing in Singapore
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Nio plans to list its shares here. After its IPO in New York, and secondary listing in Hong Kong, this would mark the third location for the Chinese electric vehiclemaker.
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An ex-President Donald TrumpA 2020 law required foreign corporations that are U.S. listed to meet higher auditing standards. The rules may be broken and they could result in the delisting of companies.
To mitigate the delisting risk, major Chinese companies listed in the U.S. — such as Alibaba, JD.com and others — have carried out secondary listings, mainly in Hong Kong.
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.
Nio’s competitors XpengAnd Li AutoBoth listed Hong Kong shares via a so-called dual primary listing.
Correction: The story was updated to reflect the dual listings of Xpeng & Li Auto in Hong Kong. These listings were misrepresented in an earlier version.
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