Chinese electric carmaker Nio debuts on SGX

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Chinese electric vehicle maker Nio made its debut on the Singapore Exchange on May 20 — its third listing after New York and Hong Kong. It’s hedging against the risk of a US delisting with a secondary listing closer to home. Its shares rose as much as 20% in early trade and closed up by about 1.7%. Nio opted for a listing by way of introduction, meaning it did not go through a traditional initial public offering process or raise proceeds. Nio CEO William Li also explained why the Singapore market is important to the company’s global expansion plans.

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