September 14, 2018
Latham & Watkins represented the underwriters in NIO Inc.’s IPO announced on September 12, 2018. The Chinese electric vehicle maker offered 160,000,000 American depositary shares (ADSs) at a price to the public of US$6.26 per ADS for a total offering size of approximately US$1 billion, assuming the underwriters do not exercise their option to purchase additional ADSs. Each ADS represents one Class A ordinary share of the Company. The ADSs trade on the New York Stock Exchange under the symbol “NIO.”
Hong Kong partner Allen Wang led the Latham team that represented the underwriters in the offering, with counsels Dominik Sklenar and Louis Rabinowitz and associates Wei Wei, Eric Yiu, and Wei Cai. Advice was also provided on securities law matters by Washington D.C. partner Alex Cohen, New York partner Dana Fleischman, and Washington D.C. counsel Paul Dudek; and on tax matters by Los Angeles partner Sam Weiner, with associate Jeesoo Nam.