Niu Technologies (NIU) IPO Opens Modestly Lower

Today's IPO for Niu Technologies (NASDAQ: NIU) opened for trading at $8.50 after pricing 7,000,000 American depositary shares (ADS) at $9.00 per ADS for a total offering size of approximately US $63,000,000, before underwriting discounts and commissions.

In addition, Niu has granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of ADS at the initial public offering price, less underwriting discounts and commissions.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Needham & Company, LLC are acting as joint underwriters of this offering.

As the world's leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance smart e-scooters. Since its founding in 2014, NIU has grown from a single product sold in China to a global brand across Europe and Asia. NIU has a streamlined product portfolio consisting of three series, N, M and U, with multiple models or specifications for each series. NIU’s streamlined product portfolio that addresses the needs of different segments of the modern urban resident, while being united through a common design language that emphasizes style, freedom and technology. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell our products and provide services. NIU has received numerous prestigious international design awards, including the German Red Dot and IF, the United States iDEA, the Japanese G-Mark, and the Chinese Red Star.

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