China's NIO (NIO), an electric vehicle company, said Thursday that it proposes to offer up to 118.8 million Class A ordinary shares in offshore transactions.
The company plans to use the net proceeds to fund the research and development of smart electric vehicle technologies and new products.
The Shanghai-based company, founded in 2014, said the equity placement outside the US is for non-US persons.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.