Latham Advises on NIO’s US$1 Billion Equity Offering

Latham & Watkins has advised the underwriters on the US$1 billion equity offering of NIO Inc. (NIO), a pioneer and a leading company in the global smart electric vehicle market.

The offering includes a total of 181,818,190 Class A ordinary shares of NIO, which consists of an offering of American depositary shares (ADSs), each representing one Class A ordinary share of NIO, and an offering of Class A ordinary shares of the company. The ADSs are offered at a public offering price of US$5.57 per ADS. The Class A ordinary shares are offered at an offering price of HK$43.36 per Class A ordinary share.

The Latham team was led by Hong Kong corporate partners Posit Laohaphan and Benjamin Su, with Beijing counsel Wei Wei and New York counsel Polina Tulupova, Hong Kong associates Christine Lo and Zhaoxin Huang, and foreign legal consultants Xiang Ao and Peiying Li, with senior paralegal Lily Mak.