Chinese electric carmaker Nio Inc. has moved forward with a secondary listing of its Class A ordinary shares on the Singapore exchange, as the Shanghai-based firm expands the locations its shares are traded.
Nio received a conditional eligibility-to-list letter from the Singapore bourse on Thursday, according to a statementBloomberg Terminal from the company. The listing in Singapore would be by way of introduction, meaning it won’t sell new shares or raise money. Nio’s shares will be fully fungible with the American depositary shares listed on the New York Stock Exchange, it said.
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