Chinese electric-vehicle maker Nio Inc. joined the rush for fundraising among new-energy vehicle manufacturers, capitalizing on a 11-fold increase in its share price this year to boost its coffers.
The manufacturer is selling 60 million American depositary shares in a follow-on offering, and has the option to sell another nine million, according to a statement. Based on its latest share price of $45.22, the EV maker could raise as much as $2.7 billion, excluding a greenshoe option.
