NIO has had another disappointing week on the stock market: starting from 16.69 euros last Friday on the Nasdaq, the shares of the Chinese Tesla challenger initially rose to 18.21 dollars on Wednesday. But then came the collapse: on Friday, the NIO share exited trading at only 14.93 dollars. The fear of a delisting in New York is obviously unsettling investors. Will this change again in the new stock market week? In any case, the e-car maker is already preparing.
Is NIO threatened with delisting from the NYSE?
According to Barron’s, NIO, along with JD.com and other Chinese companies, is one of the candidates on a blacklist of the Securities and Exchange Commission (SEC), as became known the previous week. If NIO & Co do not become more transparent in their financial accounting, they are threatened with banishment from the New York Stock Exchange (NYSE), it was said. Will it really come to that?
It “continues to comply with applicable laws and regulations in both China and the United States”, NIO is quoted as saying in a company statement. It will “endeavour to maintain its listing on both the NYSE and the HKEX in accordance with the applicable listing rules”, the electric car maker assured. NIO nevertheless seems to be preparing for the worst.
NIO prepares further listing in Singapore
For, according to the IT Times, NIO now said it had “taken a further step for a secondary listing of its Class A ordinary shares with a par value of US$0.00025 per share on the Singapore Exchange”. The shares of the Shanghai-based electric car start-up will be listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST). NIO had received a conditional letter of acceptance (ETL) for listing from the SGX-ST on 5 May 2022.