At 9 am Beijing time, NIO held a listing bell-ringing ceremony at the Singapore Exchange and became the first new energy vehicle company to be listed in Hong Kong, the United States, and Singapore.
NIO CEO William Li stated:
Today marks a new milestone for NIO. The Singapore listing has significant importance for NIO’s global business development plan. With Singapore’s important strategic position in the global capital market, NIO further enhances its layout in the global capital market. Moreover, we will work closely with local research institutions in Singapore and leverage Singapore’s advantage as an international economic and technological center to establish an artificial intelligence and autonomous driving research and development center, further improving NIO’s research and development and business layout.
Mr. Loh Boon Chye, Chief Executive Officer of SGX, said that NIO’s listing was a matter of being at the right place at the right time as the first electric vehicle company to be listed on SGX. With this listing, NIO has gained access to numerous institutional investors worldwide, and Asian clients can also invest and trade NIO shares during Asian trading hours. Mr. Loh praised Singapore as an ideal entry point for NIO to enter the Southeast Asian market as an international center for finance and financing.
Pol de Win, Executive Vice President of SGX’s Global Issuer Services and Global Business Development and Expansion, expressed admiration for NIO’s achievement as a pioneer in the high-end electric vehicle market within a mere 7 years. The presence of NIO’s user representatives at the IPO launch site also demonstrates the strength of NIO’s user community. With SGX’s reputation as a leading center for green finance in Asia, NIO’s sustainable development goals are also supported.
Pol de Win stated that providing a platform for green capital is a key focus of SGX, whether in the form of stock or bond offerings. This complements many of SGX’s sustainable development initiatives, from leading disclosure practices to establishing a trading market for high-quality carbon credit limits.
With the end of the bell-ringing ceremony, NIO officially became the first new energy vehicle company to be listed in Hong Kong, the United States, and Singapore. Similarly to its listing on the Hong Kong Stock Exchange, NIO chose to introduce its listing, without involving new stock issuance or fund-raising activities.
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.