8.75 +0.25 (2.94%)
After hours: 7:59PM EDT
|Bid||8.74 x 1000|
|Ask||0.00 x 1300|
|Day's Range||7.54 - 9.15|
|52 Week Range||5.35 - 13.80|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Tencent Music Entertainment Group, China's biggest music-streaming company, is seeking to raise about $2 billion in a U.S. listing, according to three people close to the deal, down from the up to $4 billion that had been touted earlier. The subsidiary of Chinese tech giant Tencent Holdings filed confidentially with the U.S. Securities and Exchange Commission (SEC) two weeks ago, three people with knowledge of the matter said, in what will be one of the biggest listings in New York by a Chinese company this year. Tencent Music had earlier been seeking to raise between $3 billion and $4 billion, Thomson Reuters publication IFR reported, which would have made it the biggest Chinese float in the United States so far in 2018, ahead of streaming company iQiyi's $2.42 billion IPO in March.
Tencent Music Entertainment Group, China's biggest music-streaming company, has halved the amount it is seeking to raise in a U.S. listing to about $2 billion, according to three people close to the deal. The subsidiary of Chinese tech giant Tencent Holdings two weeks ago filed confidentially with the U.S. Securities and Exchange Commission (SEC), three people with knowledge of the matter said, in what will be one of the biggest listings in New York by a Chinese company this year. Tencent Music had earlier been seeking to raise up to $4 billion, people familiar with the matter said, which would have made it the biggest Chinese float in the United States so far in 2018, ahead of streaming company iQiyi's $2.42 billion IPO in March.
As we discussed in the previous article, the United States has gone ahead with a 10% tariff on Chinese products. Only a few days back, the United States proposed trade talks with China. In a tweet, Trump said, “we are under no pressure to make a deal with China, they are under pressure to make a deal with us.
When Chinese electric-vehicle maker NIO (NYSE:NIO) launched its IPO on Wednesday, NIO did not look so inspiring. The company priced its stock at $6.26, which was on the low-end of the $6.25-$8.25 range. NIO IPO raised about $1 billion, but NIO wanted to raise $2 billion-$3 billion. The first-day performance of NIO was also muted. Note that the shares rose only about 5.4%. The underwriters on the deal included Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS) and JP Morgan (NYSE:JPM).
NIO, known as China's Tesla, was dragged lower after reports that more White House tariffs on Chinese goods are likely.
Shares of Chinese tech and internet names are getting crunched in Monday's session, after reports indicated that President Donald Trump could proceed with $200 billion in additional tariffs on Chinese goods and that China might pull out of trade talks if he goes through with that action. E-commerce names are getting hit hard, including Alibaba Group Holding Ltd. , down 3%, and JD.com Inc. , down more than 5%. Shares of internet companies iQiyi Inc. and Bilibili Inc. are also down in the session, as are shares of carmaker Nio Inc. , off 11%. Nio went public last week and has been called the Tesla Inc. of China. The KraneShares CSI China Internet ETF is down 1.7% in Monday trading, while the S&P 500 is off 0.2%.
Nio Inc. is an electric-car company that’s been called the Tesla of China. Let’s explore the strange case of Nio’s (NIO) stock-price movements on the New York Stock Exchange and why it shows that risk in the U.S. equity market is underappreciated. Please click here for an annotated chart of Nio’s stock.
The Trump Administration has lowered US corporate tax rates. Lower corporate tax rates and tariffs on imported goods are meant to shore up US manufacturing (IVV). While lower tax rates have helped buoy US equity markets, will it help bring back manufacturing jobs lost to countries like China (MCHI)?
Electric vehicle (or EV) sales are expected to grow at a fast pace over the next decade. Higher EV adoption is also shaking metal markets. Congo has revised its mining code, which has triggered a backlash from companies operating in the region.
Is Tesla Stock 'No Longer Investable'? While Tesla continues to focus on ramping up its vehicle production, its completion is rising rapidly. Apart from mainstream US automakers (XLY), such as General Motors (GM) and Ford Motor Company (F), overseas startups are also trying to challenge Tesla’s supremacy in the EV (electric vehicle) segment.
Dow Jones futures: Chip stocks, China internets, marijuana IPO Tilray and Apple were notable winners Thursday. But Facebook stock continues to weaken.
Stocks opened to narrow gains Friday with AMD, Shite and Nio posting strong early moves, while Tilray led a sell off among marijuana issues.
NEW YORK, NY / ACCESSWIRE / September 14, 2018 / Chinese electric vehicle giant NIO Limited saw huge gains on the stock’s second day of trading yesterday. Shares of electric vehicle maker Tesla were little changed but did close modestly in the red. NIO has said its cars are faster and better than Tesla’s.
After pricing near the bottom its target range at $6.26 and a bumpy first day of trading on Wednesday, the shares rose as much as 92 percent Thursday before closing at $11.60 in New York trading. The stock may also be a bellwether for a clutch of Chinese startups such as Byton and Xpeng Motors Technology Ltd., which aim to join established automakers such as BMW AG, Volkswagen AG and Nissan Motor Co. in convincing customers to switch to battery-powered autos. The offering was led by banks including Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co., which have an option to buy 24 million additional shares to cover over-allotments.
The party isn’t over for Chinese companies seeking U.S. listings and NIO Inc., which almost doubled after two full days as a public company, might deserve credit for keeping the trade alive. After an underwhelming first day of trading Wednesday, the surge in the Shanghai-based electric car maker suggests investors may continue to swarm around U.S. listings by Chinese companies, said Rett Wallace, chief executive officer at Triton Research Inc. The stock soared as much as 92 percent to $12.69, two days after the IPO priced near the bottom of its range at $6.26.
Pivotal Software stock crashed despite topping second-quarter views. AMD stock and Tilray stock rose. Tesla stock and China rival, new IPO Nio, fell.
Nio Inc. ADRs are rallying this week but one Wall Street analyst points to concerns familiar to any investor following Tesla Inc.
American depositary receipts of Nio Inc. jumped 35% in midday trading Thursday, a day after their debut on the New York Stock Exchange. Nio priced its initial public offering late Tuesday at $6.25, the low end of its expected range, to raise $1 billion, and traded as low as $5.35 Wednesday before recouping losses to end at $6.60. The ADRs traded as high as $9.77 on Thursday.
(Reuters) - Shares of Chinese electric carmaker NIO Inc (NIO.N) bounced back from a 15 percent plunge in their market debut on Wednesday, a day after the company's IPO was priced at the lower end of the ...
The NIO IPO didn’t raise as much money as the electric car maker was hoping for. The NIO (NYSE:NIO) IPO saw the company selling its 160 million shares at a price of $6.26. This has the NIO IPO bringing in roughly $1 billion of cash for the company to work with.
Shares of China-based electric car maker Nio Inc. slumped in their debut on the NYSE, after the company billed as the Tesla Inc. rival priced its initial public offering at the low end of its expected range. The first trade was at $6.00 at 10:32 a.m. ET for 8.3 million shares, 4.2% below the IPO pricing of $6.26. The expected pricing range was $6.25 to $8.25. The company raised $1.00 billion in the IPO, which placed a $6.4 billion valuation on the company. The stock declined further since the open, to hit an intraday low of $5.35. It has pared some losses to be down 6.1%. The stock has gone public at a time that the Renaissance IPO ETF has lost 2.5% over the past three months and the S&P 500 has gained 3.4%, while Tesla shares have shed 17%.
China-based electric car company Nio Inc. priced its initial public offering at $6.26 for each U.S.-listed share, near the bottom of the expected range of $6.25 to $8.25, to raise $1.00 billion. If all the options granted to underwriters to buy additional shares are exercised, the company, billed as a rival to Tesla Inc. , could raise up to $1.15 billion. The stock is expected to begin trading on the NYSE under the ticker symbol "NIO" Wednesday morning. The IPO pricing places a $6.4 billion valuation on Nio. The company is going at a time that the Renaissance IPO ETF has slipped 1.3% over the past three months and the S&P 500 has gained 3.6%, while Tesla shares have tumbled 18.5%.
SHANGHAI, China, Sept. 12, 2018-- NIO Inc., a pioneer in China’ s premium electric vehicle market, today announced the pricing of its initial public offering of 160,000,000 American depositary shares at ...