NIO raises HK$4 billion from Hong Kong stock flash placement

On March 27, NIO announced that it had successfully issued 118.79 million Class A common shares through a flash placement, raising HK$4.03 billion at a price of HK$29.46 per share. The funds will be mainly used to develop smart electric vehicle technologies and new products, as well as to strengthen the company's balance sheet and for general corporate purposes.