U.S.-listed Chinese EV maker Nio proposes a secondary listing of its shares in Singapore
Chinese electric carmaker Nio said Friday that it’s planning a secondary share listing in Singapore.
Nio, which is listed on the New York Stock Exchange, also carried out a secondary listing in Hong Kong in March. Singapore would be the third exchange that Nio’s shares are trading on.
The move comes as Nio and dozens of other U.S.-listed Chinese companies were added to a U.S. Securities and Exchange Commission list of firms facing a possible desilting from American exchanges.
Former President Donald Trump passed a law in 2020 that required U.S.-listed foreign companies to comply with higher auditing standards. Those that failed to follow the rules could be delisted.
But Nio’s move to list on a third venue, particularly Singapore, is a unique move — one that’s not been followed by many other Chinese firms yet.
Correction: This story has been updated to correctly reflect that Xpeng and Li Auto have dual primary listings in Hong Kong. An earlier version of the story misrepresented those listings.