Following the completion of the transaction, expected to take place in the final week of December, CYVN will beneficially own approximately 20.1% of Nio’s total issued and outstanding shares.
Nio Inc NIO (SGX:NIO
) has announced that it has entered into a share subscription agreement with CYVN Holdings, which will invest an aggregate of US$2.2 billion ($2.9 billion) in cash to subscribe for 294 million newly issued Class A ordinary shares at a purchase price of US$7.50 each.
CYVN Holdings is a specialist investment vehicle based in Abu Dhabi that deploys capital in smart and advanced mobility solutions. The investment will be made through CYVN’s affiliate CYVN Investments RSC, a separate investment vehicle also based in Abu Dhabi.
