NIO's (NIO) Hong Kong Listing Relieves Delisting Risks - Bernstein

February 28, 2022 6:42 AM EST
Get Alerts NIO Hot Sheet
Price: $19.17 -4.96%

Rating Summary:
    21 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 42 | New: 10
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Bernstein analyst Eunice Lee reiterated a Market Perform rating and $40.00 price target on NIO (NYSE: NIO) after the company announced the proposed listing of Class A shares on The Stock Exchange of Hong Kong ("SEHK"). Trading in Hong Kong is expected on March 10, 2022 under stock code "9866".

The analyst stated "We see NIO's listing in HK as a relief to the delisting risks concerning ADRs on American Exchanges. Listing by introduction is a quicker way of getting listed and poses no dilution to existing shareholders. The downside of a secondary listing is that the company is restricted from raising fresh capital or issuing new shares in the next 6 months. Also, NIO will not be eligible for trading on the Hong Kong-China Stock Connect."

For an analyst ratings summary and ratings history on NIO click here. For more ratings news on NIO click here.

Shares of NIO closed at $20.94 yesterday.

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