Source: Tech – South China Morning PostChinese electric vehicle (EV) maker Nio plans to raise more than US$1 billion in fresh funds with a share sale to enhance its development and replenish capital amid a price war.
In a statement on Wednesday, the Shanghai-based carmaker said 181.8 million new shares would be issued, which would be allocated between its American depositary shares (ADS) and its ordinary stock.
Nio is listed in the US, Hong Kong and Singapore. Investors can subscribe to the ADS, to be traded on the New York Stock…Read More