NIO Inc. (NIO) Prices 160M ADS IPO at $6.26/ADS
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September 12, 2018 1:49 PM EDT
After a lousy start, today's IPO for NIO Inc. (NYSE: NIO) is pressing higher. Shares are at $6.70 after pricing at $6.26, opening at $6 and going as low as $5.35.
The company makes premium electric vehicles in China.
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September 12, 2018 10:34 AM EDT
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... More
September 11, 2018 7:42 PM EDT
By Joshua Franklin and Julie Zhu
NEW YORK/HONG KONG (Reuters) - Chinese electric vehicle start-up NIO Inc (NYSE: NIO) priced its shares near the bottom of its targeted price range in its U.S. initial public offering, according to sources familiar with the matter, dragged down by investor concerns about the prospects of chief competitor Tesla Inc (NASDAQ: TSLA).
Tesla's struggle to meet its production targets and an abandoned attempt by chief executive Elon Musk to take it private have weighed not just on its own stock,... More
