Chinese electric vehicle manufacturer Nio offers secondary listing in Singapore

Nio plans to list its shares in Singapore. This would be the Chinese electric carmaker’s third listing position, following its IPO in New York and a secondary listing in Hong Kong.

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Chinese electric car manufacturer no he said Friday that he is planning a secondary stock listing in Singapore.

Nio, which is listed on the New York Stock Exchange, also had a secondary business listing in Hong Kong in March. Singapore would be the third exchange where Nio’s shares are traded.

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 companies that risk a possible dissolution from American stock exchanges.

Former president Donald Trump passed a law in 2020 that required foreign companies listed in the United States to comply with higher auditing standards. Those who have not respected the rules could be canceled.

To mitigate the risk of delisting, major Chinese companies listed in the United States, such as Alibaba, JD.com and others – made secondary quotes, mainly in Hong Kong.

But Nio’s move to go public in a third location, notably Singapore, is a unique move that has not yet been followed by many other Chinese companies.

Nio’s rivals Xpeng Other Machine them both had secondary quotes in Hong Kong.