2 September, 2020
Skadden advised NIO, Inc., a pioneer in China's premium smart electric vehicle market, on its offering of 88,500,000 new American Depositary Shares (ADSs). Each ADS represents one Class A ordinary share of NIO, Inc., at a price of US$ 17 per ADS, for a total offering size of US$ 1.5 billion, exclusive of the underwriters' exercise of their option to purchase up to 13,275,000 additional ADSs.
Skadden also advised NIO, Inc. on its US$ 1 billion initial public offering on the New York Stock Exchange in 2018.
The Skadden team was led by partners Julie Gao (Hong Kong) and Adrian Deitz (Sydney), with Counsel Yuting Wu (Shanghai), and associates Wei Luo (Shanghai), Weiwei Chen(Hong Kong), Yiting Li (Shanghai) and Katy Cummings (Palo Alto).
