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UPDATE 1-China startup Nio hires eight banks for up to $2 bln U.S. IPO - sources [Reuters (UK)]

CITIGROUP (C)  More Company Research Source: Reuters
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PDF China startup Nio hires eight banks for up to $2 billion U.S. IPO: sources | Reuters 3 Min Read HONG KONG (Reuters) - Chinese electric vehicle startup Nio has hired eight banks including Morgan Stanley ( MS.N ) and Goldman Sachs ( GS.N ) to work on a planned U.S. stock market listing this year worth up to $2 billion, people with knowledge of the matter told Reuters. Other banks are Bank of America Merrill Lynch ( BAC.N ), Credit Suisse ( CSGN.S ), Citigroup ( C.N ), Deutsche Bank ( DBKGn.DE ), JPMorgan ( JPM.N ) and UBS ( UBSG.S ), said the people, declining to be identified as the deal details are not public. Nio’s proposed IPO of $1 billion-$2 billion comes as the firm, founded by Chinese internet entrepreneur William Li in 2014, seeks fresh capital to finance its expansion and investments in areas including autonomous driving and battery technologies, one of them said. At the top end of the potential offering size, Nio’s IPO would become the biggest Chinese listing [Read more]

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