Nio (NIO) announces closing of $2.2B investment deal
Chinese electric automaker, Nio Inc. (NYSE: NIO) announced Wednesday that the company has closed the US$2.2 billion strategic equity investment from Abu Dhabi-based CYVN Investments.
CYVN completed a significant strategic equity investment of US$738.5 million in the Company back in July. As part of this investment, CYVN purchased specific Class A ordinary shares from a Tencent Holdings Ltd. affiliate for a total of US$350 million. Both transactions were finalized in July 2023.
With the recent closure of the US$2.2 billion strategic equity investment, CYVN now holds approximately 20.1% of the Company's total issued and outstanding shares, consolidating its substantial ownership stake.
Moving ahead, NIO and CYVN, along with their associated affiliates, will maintain a close partnership and collaborate jointly to pursue strategic initiatives and technological advancements in global markets.
Shares of NIO are down 2.09% in afternoon trading on Wednesday.
By Michael Elkins | [email protected]