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NIO has unveiled its intention to issue approximately 137 million Class A ordinary shares at a price of HK$29.46 per share, anticipating a total raise of HK$4.03 billion. The proceeds will primarily be directed towards technological research and development, as well as bolstering the company's cash reserves. This placement price is a 9.5% discount to the most recent closing price. Notably, Hong Kong has witnessed a surge in share placements by automakers lately, with BYD and Xiaomi both successfully concluding significant fundraisings. For the year 2024, NIO reported a revenue of RMB 65.732 billion and incurred a net loss of RMB 22.402 billion. The company anticipates delivering 41,000 to 43,000 vehicles in the first quarter of 2025 and aims to achieve quarterly profitability by the fourth quarter of the same year.
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