NIO Inc., a leading company in the premium smart electric vehicle market, has announced its participation in the Singapore Exchange Securities Trading Limited securities lending program through its wholly-owned, consolidated special purpose vehicle, CHJ Limited. CHJ Limited will lend up to 2,000,000 Class A ordinary shares, representing approximately 0.1% of NIO's total Class A ordinary shares issued and outstanding. The loaned shares may be publicly traded on the Singapore Exchange during the loan period, which extends from the date of the prospectus until the loan is terminated by either The Central Depository (Pte) Limited or CHJ Limited. The loaned shares may be borrowed by registered borrowers under the SGX Securities Lending Program, which includes clearing members, depositary agents, banks licensed...Show More

NIO Inc., a leading company in the premium smart electric vehicle market, has announced its participation in the Singapore Exchange Securities Trading Limited securities lending program through its wholly-owned, consolidated special purpose vehicle, CHJ Limited. CHJ Limited will lend up to 2,000,000 Class A ordinary shares, representing approximately 0.1% of NIO's total Class A ordinary shares issued and outstanding. The loaned shares may be publicly traded on the Singapore Exchange during the loan period, which extends from the date of the prospectus until the loan is terminated by either The Central Depository (Pte) Limited or CHJ Limited. The loaned shares may be borrowed by registered borrowers under the SGX Securities Lending Program, which includes clearing members, depositary agents, banks licensed by the Monetary Authority of Singapore, and entities licensed to deal in securities. NIO Inc. will not receive any proceeds from the lending of the shares, except for a lending fee paid to CHJ Limited. The announcement also highlighted that NIO Inc. is not an operating company in China but a Cayman Islands holding company, and investors in NIO's ADSs and Class A ordinary shares are purchasing equity interests in the Cayman Islands holding company, not in the VIEs in China.