Nio makes most of its time in the sun among investors. Photo: Bloomberg
Nio plans stock sale worth US$3.12 billion as Chinese electric carmakers boost capital to challenge Tesla
- Nio will price 60 million American depositary shares after close of US trading on Friday, with option to raise the size to 69 million
- Stock placement, worth US$3.12 billion at current market price, could overtake recent add-on offerings by rivals Xpeng and Li Auto
Nio makes most of its time in the sun among investors. Photo: Bloomberg