Business

Nio shares fall after $2 billion stock offering announced

Nio Inc. shares fell in late buying and selling Tuesday, after the Chinese language electric-car firm introduced plans to promote as much as $2 billion in contemporary U.S. shares.

Nio
NIO,
+0.54%

filed a prospectus with the Securities and Change Fee to promote as much as $2 billion in American depository shares in an at-the-market providing, which seeks to cost shares on the going market fee. Nio shares closed Tuesday at $40.59, suggesting Nio may search to promote as much as roughly 50 million shares relying on pricing, and stated the proceeds will probably be used for basic company functions and to strengthen its steadiness sheet.

https://www.marketwatch.com/story/nio-shares-fall-after-2-billion-stock-offering-announced-11631048994?rss=1&siteid=rss | Nio shares fall after $2 billion inventory providing introduced

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