Maples Group Supports NIO Inc. with its Secondary Listing in Hong Kong
The Maples Group is pleased to have recently supported NIO Inc. (the “NIO”), a company primarily listed on the New York Stock Exchange (“NYSE”), with its secondary listing, by way of introduction, of its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited. Shares in the company commenced trading on the Hong Kong Stock Exchange on 10 March 2022.
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A team of Finance lawyers based in the Group’s Hong Kong office advised NIO on the Cayman Islands legal aspects of the transaction and was led by Finance Partner, Lorraine Pao with assistance from Associate, Irena Wu. The Group’s Fund Services team, comprising Eastern Fong, Regional Head of Fund Services – Asia and Christy Poon, Senior Vice President, acted as the Cayman Islands share registrar.
NIO is a Chinese multinational automobile manufacturer headquartered in Shanghai, specialising in designing and developing electric vehicles. As a long-standing client of the Group, the Hong Kong legal team previously advised NIO on the Cayman Islands legal aspects of its initial public offering of American depositary shares (“ADSs”) on the NYSE in 2018, its follow-on offerings of ADSs in September 2020 and December 2020, and more recently the US$2 billion at-the-market offering of ADSs in November 2021.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates acted as legal advisers to NIO as to Hong Kong and US laws and Han Kun Law Offices as to PRC law. Simpson Thacher & Bartlett and Commerce & Finance Law Offices acted as legal advisers to the Joint Sponsors as to Hong Kong and US laws and PRC law respectively.