China's NIO unveils 118 mln share offering to develop EV technologies

Seeking Alpha News (Thu, 27-Mar 6:32 AM)

  • NIO (NYSE:NIO) Thursday said it proposes to offer up to 118.8 Class A ordinary shares of the company in offshore transactions.
  • The company currently plans to use the net proceeds from the equity placement for research and development of smart electric vehicle technologies and new products, further strengthening the balance sheet as well as general corporate purposes.