NIO to increase its stake in NIO China

  • Through its wholly-owned subsidiary, NIO (NYSE:NIO) entered into a definitive agreement to increase its shareholding in NIO Holding Co., Ltd. (NIO China previously known as NIO (Anhui) Holding Co.).
  • As per the agreement, the company will buy back from a minority strategic investor that invested in NIO China in April 2020 1.418% equity interest for a consideration of RMB2.5B and will subscribe for newly increased registered capital of NIO China at a subscription price of RMB7.5B.
  • On completion, the company will hold total 92.114% controlling equity interests in NIO China.
  • With regards to this transaction, NIO China strategic investors have duly waived their applicable minority shareholder rights, including pre-emptive rights.