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China NIO raise around USD 1 billion in initial public offering-The 20th China (Guangzhou)Int’l Fastener & Equipment Exhibition
9/14/2018 緊固件展-緊固件采購(gòu)會(huì)-國(guó)際緊固件展-fastener expo |
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Bloomberg reported that NIO sold stock in its US initial public offering near the lower end of its target range, people with knowledge of the matter said, as investors scrutinize the Chinese electric-car maker seeking to take on the likes of Tesla. The Tencent Holdings-backed company raised about USD 1 billion selling 160 million American depositary shares at USD 6.26 apiece. The shares were offered at USD 6.25 to USD 8.25 each. The sale values NIO at about USD 6.4 billion.
NIO is testing investor appetite for electric-car makers vying to become a homegrown answer to Tesla in China, the world’s largest market for such vehicles. The company faces competition from dozens of local rivals as well as BMW AG, Daimler AG and a slew of other global players.
By going public, NIO is set to attract the same type of intense scrutiny that Elon Musk’s company faces as investors seek proof that it has the manufacturing capacity to deliver on its promises. NIO had delivered fewer than 2,000 vehicles ever up until its IPO filing.
NIO, meanwhile, is ramping up production of the ES8 SUV, its first commercial product, at a partner’s plant in the eastern city of Hefei. Founder William Li has pledged to deliver 10,000 vehicles to customers by year’s end. The company needs to sell about 100,000 vehicles a year to break even, according to estimates by Sanford C. Bernstein & Co.
緊固件展-2019第二十屆廣州國(guó)際緊固件及設(shè)備展覽會(huì)-巨浪展覽
-The 20th China (Guangzhou)Int’l Fastener & Equipment Exhibition
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