Li Bin, founder and CEO of NIO Automobile, said in an open letter in the foreword of the prospectus that 50 million shares, i.e. one-third of the total shares, will be transferred to "user trust fund".
NIO is also joining several sizable Chinese listings in NY this year, even as Sino-U.S. trade tensions involving tit-for-tat tariffs rattle global stock markets. Ltd and Kandi Technologies Group, are listed in the U.S., Nio's IPO would dwarf their presence on the stock exchange. If approved, Nio would be the second largest, after streaming service iQiyi, which raised $2.42 billion from a Nasdaq IPO in March. Its investors include Baidu, Lenovo and Sequoia Capital.
With numerous world's electric vehicles being sold in China, it isn't a surprise that many want to involve themselves in the industry. Nio chiefs hope the figures will even out as it delivers more ES8s to customers, although rival electric brand Tesla has proven that achieving this is easier said than done. NIO is sufficiently funded for its operations and mass-production plans, Li said earlier this year.
The Chinese auto maker in late June began making deliveries of its first mass-produced electric vehicle, the ES8, after unveiling the $67,000 seven-seat SUV past year.
As of July 31, Nio had delivered 481 ES8 vehicles and had "unfulfilled reservations for more than 17,000" more for which people had put down deposits, the filing says. Nio also said that it incurred a net loss of $502.6 million in the first six months of 2018 on revenues of $6.95 million in revenues.
NIO mainly plans to use the proceeds to be raised for research and development of products and technology, marketing and developing manufacturing facilities.
The offering is being led by Morgan Stanley, Goldman Sachs Group Inc, JP Morgan Chase & Co, Bank of America Corp, Deutsche Bank AG, Citigroup Inc, Credit Suisse Group AG and UBS Group AG.
Sarri wants to implement a 4-3-3 formation at Chelsea this season where Jorginho will play the role of a deep lying midfielder. Loftus-Cheek is likely to have to compete with both Barkley and Kovacic for a starting spot.
The Davis Cup, founded in 1900, is one of the world's largest global team competitions with 132 nations taking part in 2018. Top-ranked Rafael Nadal is expected to play for Spain, but Roger Federer has frequently passed on playing for Switzerland.
Mathias, the 27-year-old brother of Manchester United and France star Paul, is now out of contract having picked up an injury. He failed to earn a contract with Uerdingen, who have 2014 FIFA World Cup victor Kevin Grosskreutz in their books.
Très remonté contre ses dirigeants, il a dit avoir passé " son plus mauvais jour au club " et vouloir "peut-être arrêter là". Gustavo Poyet n'était pas du tout tranquille après la victoire de Bordeaux sur le FC Mariupol (2-1).
In a statement to The Post, Meuret said the password for an independent job board site used by the company was compromised Monday. A similar explanation appears in a screenshot posted to different Facebook thread from someone resharing Robinson's post.
Iron Fist was a very controversial addition to the Marvel's Netflix universe when it debuted in Spring 2017. There are some cool action beats here - Danny punching that truck to smithereens looks pretty darn neat.
If you've heard of the name Zion Williamson then you already know that the 6'7, 285 lbs freshman from SC can DUNK . The Blue Devils wrap up the Canada tour with a game against McGill University on Sunday at Place Bell in Montreal.
In the statement published on the Saudi Arabian Monetary Authority's (SAMA) website, the committee made its stand crystal clear. The statement talks about cryptocurrency trading in general so other cryptocurrencies in the region are in hot water as well.
Shakespeare wrote about Cleopatra, "Age can not with her, not custom stale her infinite variety". "Long may you reign". In another, she playfully holds a small piece of cloth above her face that reads "The Queen".
Doha has $20 billion worth of investments in Turkey, and Ankara is one of the top exporters to the emirate. On Wednesday, the lira traded at 6.4125 to the USA dollar, weakening from a close of 6.3577 a day earlier.
Considérer l'homosexualité comme une maladie est une idée reçue encore très tenace, ancrée dans les mentalités. Un médecin homéopathe établi à Lausanne propose de traiter les symptômes de l'homosexualité .
Pourtant, que pense-t-il réellement de Cyril Hanouna? On le sait, l'animateur fait souvent face à des scandales et controverses. MCE vous dit tout. À la rentrée, Cyril Hanouna sera aux commandes d'une toute nouvelle émission sur C8.
Ex-Indian PM Vajpayee dies at age 93
Kargil war India won the Kargil war in 1999 and Vajpayee was hailed for his successful handling of the situation. Odisha CM Naveen Patnaik who visited New Delhi AIIMS said "I am deeply grieved by the sad demise of Vajpayeeji".
Respect pour Aretha Franklin qui vient de nous quitter
Aretha quitte son producteur et sa maison de disques pour s'engager auprès d'Atlantic records , aux côtés de Jerry Wexler. Surnommée la Reine de la Soul , Aretha Franklin s'est également illustrée en chantant du gospel, du R&B ou de la pop.
'Queen of Soul' Aretha Franklin dead at 76
Rhythm and blues singer Aretha Franklin performs at the inaugural gala for President Clinton in Washington on January 19, 1993. The love she had for her children, grandchildren, nieces, nephews, and cousins knew no bounds".
Maryland Calls Special Closed Meeting For Friday
Coach Durkin was placed on administrative leave Saturday after ESPN reported that coaches had been bullying the players. And teach our young kids, our young people that we worked so hard to get there, to 'Hey, I'm giving my child to you.
Brant Snedeker shoots 59 at Wyndham Championship
The 59 is the first on the PGA Tour since Adam Hadwin did it at the CareerBuilder Challenge in January 2017. Snedeker has had a down year by his standards and entered the week 80th in the FedEx Cup standings.
Bodies of Colorado family found on oil property
A law enforcement source told NBC affiliate KUSA in Denver that Chris Watts admitted to killing all three of them. " Celeste . Mike Hendrickson said he's lived in the Watts' neighborhood nearly seven years but would only talk to the Watts in passing.
Arrest after dozens overdose in CT park
Numerous cases took place at the New Haven Green, a park near the university where a similar mass overdose took place on July 4. The mass overdose began Tuesday night and forced police to continue monitoring the Green late into Wednesday night.
Elon Musk Wants to Take Angelenos Out to the Ball Game
Seats on the carriages will be limited to 1,400 people per event, which is approximately 2.5 percent of Dodger Stadium's capacity. The Boring Co. said construction would not affect Metro stations or lead to any road closures.