(MENAFN- Investor Ideas) Investorideas , a go-to platform for big investing ideas, including EV Stocks reports on trading and news for NIO Inc. (NYSE: NIO ) (HKEX: 9866; SGX: NIO), a pioneer and a leading company in the global smart electric vehicle market.
The stock is currently trading at $6.93, up 0.41, gaining over 6% on volume of over 168 Million shares as of this report. The stock has a day's high of $7.70.
NIO just announced that it has entered into definitive agreements for investment in NIO Holding Co., Ltd., a PRC subsidiary in which it holds 92.1% controlling equity interest , with Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd. and CS Capital Co., Ltd. (collectively, the "Strategic Investors"), pursuant to which the Strategic Investors will invest an aggregate of RMB3.3 billion in cash (the "Strategic Investment Amount") to subscribe for newly issued shares of NIO China. Concurrently, NIO will invest an aggregate of RMB10 billion in cash (the "NIO Investment Amount") to subscribe for newly issued shares of NIO China (collectively, the "Investment Transaction"). Upon completion of the Investment Transaction, NIO will hold 88.3% of controlling equity interest in NIO China, while the Strategic Investors together with the other existing shareholders will collectively hold the remaining 11.7% of equity interest in NIO China.
In addition to the NIO Investment Amount, NIO also has the right to invest an additional RMB20 billion to subscribe for additional shares in NIO China by December 31, 2025 based on the same price and terms of the Investment Transaction.
The Investment Transaction is subject to regulatory and internal approvals, as well as the satisfaction of customary closing conditions. The Strategic Investors and NIO will each inject cash into NIO China in two installments, with 70% of the Strategic Investment Amount and NIO Investment Amount to be made by the end of November 2024, with the remaining 30% to be made by the end of December 2024.
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