Chinese EV carmaker NIO raises $650 million via convertible bond [Reuters (UK)]
NIO Inc. American depositary shares, each representing one Class A ordinary share (NIO)
Last nio inc. american depositary shares, each representing one class a ordinary share earnings: 3/18 07:30 am
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Source: Reuters
Chinese EV carmaker NIO raises $650 million via convertible bond | Reuters 4 Min Read HONG KONG (Reuters) - Electric carmaker NIO Inc, one of the main rivals to Tesla in China, raised $650 million in a five-year convertible bond on Thursday, aiming to use the proceeds to fund expansion. The Shanghai-based carmaker’s move to raise capital via an equity-linked bond - only four months after it listed in New York - mirrors that of China’s Netflix-like video platform iQiyi, which sold a $750 million convertible bond in November after going public last year, highlighting the growing appeal of convertibles for high-growth companies in need of cash. Convertible bonds are a cheaper funding avenue due to their lower coupons in exchange for giving the bondholder the option of converting the debt into company shares at a set price in future. The equity link gives investors fixed returns and the prospect of profiting from a rise in the issuer’s share price. NIO sold a five-year convertible bond wi
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NIO
News
- NIO: In Search Of A Bottom [Seeking Alpha]Seeking Alpha
- Xiaomi's Success Means More Trouble for Battered China EV Stocks [BNN Bloomberg (Canada)]BNN Bloomberg
- Nio Inc - (NYSE: NIO) had its "neutral" rating re-affirmed by analysts at Macquarie. They now have a $5.00 price target on the stock.MarketBeat
- NIO Inc. Files Its 2023 Annual Report on Form 20-F [Yahoo! Finance]Yahoo! Finance
- NIO Inc. Files Its 2023 Annual Report on Form 20-FGlobeNewswire
NIO
Earnings
- 3/5/24 - Beat
NIO
Sec Filings
- 4/9/24 - Form 6-K
- 4/9/24 - Form 20-F
- 4/4/24 - Form SC
- NIO's page on the SEC website