In this article

Nio is planning to list its shares in Singapore. This would be the Chinese electric carmaker’s third listing location, following its IPO in New York and a secondary listing in Hong Kong.
Costfoto | Future Publishing | Getty Images

Chinese electric carmaker Nio said Friday that it’s planning a secondary share listing in Singapore.

Nio, which is listed on the New York Stock Exchange, also carried out a secondary listing in Hong Kong in March. Singapore would be the third exchange that Nio’s shares are trading on.

The move comes as Nio and dozens of other U.S.-listed Chinese companies were added to a U.S. Securities and Exchange Commission list of firms facing a possible desilting from American exchanges.

Former President Donald Trump passed a law in 2020 that required U.S.-listed foreign companies to comply with higher auditing standards. Those that failed to follow the rules could be delisted.

To mitigate the delisting risk, major Chinese companies listed in the U.S. — such as Alibaba, JD.com and others — have carried out secondary listings, mainly in Hong Kong.

But Nio’s move to list on a third venue, particularly Singapore, is a unique move — one that’s not been followed by many other Chinese firms yet.

Nio’s rivals Xpeng and Li Auto have both listed shares in Hong Kong via a so-called dual primary listing.

Correction: This story has been updated to correctly reflect that Xpeng and Li Auto have dual primary listings in Hong Kong. An earlier version of the story misrepresented those listings.

You May Also Like
Bitcoin jumps above ,000 for the first time since November 2021

Bitcoin jumps above $63,000 for the first time since November 2021

Rafael Henrique | Sopa Images | Lightrocket | Getty Images Bitcoin continued…

The worst-performing tech stocks this week suggest the U.S. is done with Covid lockdowns

In this article DOCU ETSY DASH ZM A trader working after the…

Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help

In this article CELH Celsius Network, once a titan of the crypto…

Bitcoin tops psychological $20,000 level in ‘bearish rally’ as U.S. dollar falls

In this article ETH.CM= BTC.CM= Bitcoin prices have been under pressure in…