NIO (NIO) said Thursday it priced its upsized offering of HK$4.03 billion ($518.3 million) which includes 136.8 million class A ordinary shares at HK$29.46 each.
The offering is expected to close the equity placement around April 7, pending customary closing conditions.
The company plans to use the proceeds for research and development of smart electric vehicle technologies, balance sheet strengthening, and general corporate purposes.
The Shanghai-based company said the equity placement outside the US is for non-US persons.
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