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Nio announces equity investments from Abu Dhabi-linked CYVN Holdings

June 20, 2023
Source: seekingalpha.com seekingalpha.com
News Snapshot:
Nio Inc (NYSE:NIO) said on Tuesday that it had entered into a share subscription agreement with CYVN Holdings, an investment vehicle majority owned by the Abu Dhabi Government. CYVN Holdings will invest $738.5M in cash to subscribe 84.7M newly issued class A ordinary shares of the electric-vehicle maker for a per share price of $8.72. Nio also said that it is aware of CYVN Holdings' agreement with a Tencent affiliate, under which CYVN will buy 40.1M shares of Nio owned by the Tencent affiliate. CYVN will own about 7% of the Chinese EV player after the close of this transaction....
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China Tech Buzz Topics: agreement | Business | cash | Chinese | electric vehicle | EV | government | international | investment | IT | NIO | NYSE | share | shares | stock market | Tencent | vehicle

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