22
Jun
17:34
Abu Dhabi pumps $740m into China’s Nio
Abu Dhabi government’s investment vehicle CYVN Holdings will pump $738.5 million in cash into Chinese smart electric manufacturer Nio securing a 7% share in the company, Kallanish reports.
Under the deal announced by Nio, CYVN will acquire 84.69m of newly NYSE issued Class A ordinary shares at $8.72 each. The private placement is set to close in early July.
At the same time, CYVN has also agreed to purchase 40.13m Nio shares from an affiliate of Tencent. …
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