China-based electric car maker Nio has on May 5 received its eligibility to list from the Singapore Exchange for a secondary listing.
An introductory document relating to the proposed secondary listing by way of introduction is slated to be issued by end of this month.
Upon listing on the SGX, the shares will be fully fungible with the ADSs listed on the NYSE, where it is already listed.
Nio, which positions itself as a “premium” EV maker, has also been listed in Hong Kong since March.
The company, founded in 2014, was joining two other China-based electric car makers Xpeng and Li Auto which are similarly listed in the US first, but have joined the “homecoming” wave to Hong Kong amid persistent tensions between US and China.
Nio’s US-quoted shares have dropped 54.05% year to date to trade at US$15.38.
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Nio’s shares in Hong Kong, which started trading at HK$158.9 on March 10, last traded at HK$120.8.
The listing of Nio is part of a pick up in SGX listings. Besides the local IPOs, on April 13, a couple of other big listings are poised to make their way here.
On April 13, Emperador Inc, the largest liquor company in the Philippines, received its conditional eligibility to list.
On May 5, Thai Beverage, already listed here, announced its plans to revive the spin-off listing of its beer business.
