NIO plans to raise $1.8 billion in its IPO in the USA, the first case in the Chinese new vehicle manufacturers

On August 14 (GMT+8), NIO submitted the IPO prospectus to the SEC officially. It said that NIO AUTO plans to be listing on the stock market in the NYSE with its stock symbol of NIO and plans to raise up to $1.8 billion, lower than the previous rumor of $2 billion.

According to NIO AUTO official, NIO AUTO's IPO underwriters include Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America Merrill Lynch, Deutsche Bank, Citibank, Credit Suisse, UBS and Wolff Capital Markets and Consulting Wait.

According to the prospectus, Li Bin, who is NIO founder, holds 17.2%, Tencent 15.2%, Hillhouse Capital 7.5%, Li Xiang, CHJ AUTO founder, 1.7%, and Padmasree Warrior, CEO of NIO North American,1.4%.

NIO AUTO is the third listed company led by Li Bin. Earlier, Li Bin had led two companies to be listed successfully. BITA AUTO(BITA.NYSE) was listed on the NYSE in 2010 and the vehicle retail trading platform owned by BITA – YIXIN GROUP(02858.HK) was listed on the HKEX in November, 2017.

NIO AUTO, which has set 6 NIO Houses in 6 cities, was established in 2014. It is expected that there will be 15 NIO Houses in 13 cities in 2018. In the meantime, NIO AUTO has planted the NIO Power in 8 cities and it is expected to have NIO Power in 33 cities in 2018.

NIO's first production vehicle, NIO ES8, was released in 2017 and has been delivered in the first half of this year. According to Li Bin's introduction, this model has been delivered in 55 cities. The public prospectus shows that, as of July 31, 2018, NIO AUTO had received 17,000 ES8 orders with prepaid deposit, produced more than 1,300 ES8s and delivered 481 units with a total financing of over US$2.4 billion.

It is reported that after the release of the ES8, NIO AUTO will also launch the second SUV, the ES6, before the end of 2018. It is a 5-seat high-performance electric SUV with a lower price than that of the ES8. The ES 6 will be delivered for the first time in the first half of 2019.