首页 News 正文

$2.2 billion! NIO receives a new round of strategic investment from Abu Dhabi CYVN

花枝俏
4061 0 0

NIO SW (09866. HK), whose founder "long-distance travel" has become the focus, announced on the Hong Kong Stock Exchange after market hours that it has entered into a share subscription agreement with CYVN Holdings through its subsidiary, CYVN. CYVN Holdings is a professional investment institution headquartered in Abu Dhabi, focusing on investing in the advanced and intelligent mobile transportation sector. According to the share subscription agreement, CYVN will invest a total of $2.2 billion in cash to subscribe for 294 million newly issued Class A common shares of the company at a purchase price of $7.50 per share. After the transaction is completed, CYVN will beneficially hold approximately 20.1% of the total issued and outstanding shares of NIO.
Previously, NIO received a strategic equity investment of $738.5 million from CYVN in July 2023. In addition, CYVN purchased several Class A common shares of NIO from an affiliate of Tencent Holdings Limited for a total consideration of $350 million.
December investment transactions are subject to customary delivery conditions, and the delivery of $2.2 billion is expected to be completed in the last week of December. According to Regulation S of the Securities Act of 1933 (as amended), the issuance of shares through non-public offering is exempt from registration. Within six (6) months after the delivery of investment transactions in December, both investors and NIO are subject to specific lockdown arrangements.
NIO stated that at the time of investment transaction delivery in December, CYVN will have the right to nominate two directors to the company's board of directors, provided that it continues to beneficially own no less than 15% of the company's outstanding share capital. If CYVN beneficially owns less than 15% but more than 5% of the company's outstanding share capital, it will have the right to nominate a director to the board of directors of the company. Appointments must comply with applicable laws, regulations, listing rules, and the company's articles of association.
NIO also stated that after the investment transaction delivery in December, it will continue to cooperate with CYVN and its affiliated companies to seek strategic and technological cooperation in the international market.
What organization is CYVN?
CYVN is an investment institution with a majority stake in the Abu Dhabi government of the United Arab Emirates, with a strategic focus on the intelligent transportation industry. The fund was established in 2022 with the goal of investing in global industry leaders in this field.
There are several well-known sovereign funds in the United Arab Emirates, such as Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company, UAE Investment Authority (EIA), Dubai Investment Company (DIC), and RAKIA. And CYVN Holdings is the youngest among them.
CYVN Holdings' focus on advanced and intelligent transportation reflects the long-term vision of the Abu Dhabi government for the emirate.
Abu Dhabi is one of the seven emirates of the United Arab Emirates. Compared to the Emirate of Dubai, known for its tourism, finance, and trade, Abu Dhabi is a major producer of oil and gas, with over 90% of the UAE's reserves.
However, the Abu Dhabi government is seeking economic diversification and reducing dependence on hydrocarbons. The intelligent transportation sector is considered one of the key growth points for the future, and the establishment of CYVN is aimed at achieving these goals of the Abu Dhabi government.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

  •   知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
    caffycat
    4 小时前
    支持
    反对
    回复
    收藏
  •   每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
    star8699
    前天 19:48
    支持
    反对
    回复
    收藏
  •   上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
    goodfriendboy
    前天 20:09
    支持
    反对
    回复
    收藏
  •   百度创始人李彦宏19日在2024中国5G+工业互联网大会上发表演讲时表示,多智能体协作应用无代码工具"秒哒"发布不到3天,超过5000家企业排队申请测试。此外,L4级端到端的自动驾驶大模型发布后,搭载百度这一大模 ...
    laozhucn
    3 天前
    支持
    反对
    回复
    收藏
花枝俏 新手上路
  • 粉丝

    0

  • 关注

    0

  • 主题

    0