Chinese electric vehicle major Nio is eyeing secondary listings by introduction in Hong Kong and Singapore as it looks to expand across the region, Reuters reported, citing stock exchange filings.
The Shanghai-based firm has reportedly won preliminary approval for a Hong Kong listing. Meanwhile, Singapore is reviewing an application for Nio’s listing on the main bourse of the Singapore Exchange.
Unlike traditional IPOs, companies listing by introduction will not be raising new capital as they are only listing shares already in issue. Nio’s primary listing is in New York.
The firm said its class A shares are set to trade in Hong Kong on March 10 under the “9866” stock symbol after it receives final approval.
Nio had planned for an earlier listing in Hong Kong in 2021, but the company postponed it indefinitely after receiving questions over its organizational structure.
See also: These are the most active investors in China’s startups
Editing by Lorenzo Kyle Subido
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