China’s electric-vehicle maker Nio Inc (NIO) has announced the completion of the offering of 72 million American depositary shares (ADS) at $5.95 per ADS, raising $428.4 million.The company has also granted the underwriters a 30-day option to purchase up to an additional 10.8 million ADSs.Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited are acting as the joint book-running managers for the ADS offering.NIO plans to use the net proceeds mainly to fund its cash investments in NIO China, as well as other working capital needs.The company “expects NIO China …read more
Source:: Yahoo Finance
