China EV Maker NIO Inc. (NIO) IPO Opens 4% Lower

September 12, 2018 10:34 AM EDT

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Today's IPO for NIO Inc. (NYSE: NIO) opened for trading at $6 after pricing 160,000,000 American depositary shares at a price to the public of US$6.26 per ADS.

Morgan Stanley & Co. LLC, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, UBS Securities LLC and Wolfe Capital Markets and Advisory are acting as joint underwriters of this offering.

NIO Inc. is a pioneer in China’s premium electric vehicle market, founded in November 2014. NIO’s mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO designs, jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next generation technologies in connectivity, autonomous driving and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive, convenient and innovative charging solutions and other user-centric services. NIO began deliveries of the ES8, a 7-seater high performance electric SUV in China from June 2018 and plans to launch ES6, a 5-seater electric SUV in late 2018.

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