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NIO-SW Slumps 7%+ on 9.5% Discounted Placing
Recommend 6 Positive 12 Negative 11 |
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NIO-SW (09866.HK) opened 4.2% lower today (28th) at HKD31.2, with an early drop of 8.1% to bottom at HKD29.9. It last posted at HKD30.05, down 7.68%, with a trading volume of 11.0437 million shares and a turnover of HKD334 million. NIO-SW announced that it had priced its Class A ordinary shares at HKD29.46 per share, representing a 9.49% discount to the closing price of the previous trading day (27th). The gross proceeds raised amount to HKD4.03 billion, with the number of shares to be placed increased from 119 million to 136.8 million Class A ordinary shares. The Company expects to close the Equity Placement on or about April 7. The Company plans to use the net proceeds from the Equity Placement for research and development of smart electric vehicle technologies and new products, further strengthening balance sheet as well as general corporate purposes. AAStocks Financial News |
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