Chinese electric-vehicle maker, NIO, has updated its initial public offering (IPO) prospectus and set terms to raise a total of $1.32 billion.
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NIO Automobile submitted its prospectus to the U.S. Securities and Exchange Commission (SEC) for an IPO on the New York Stock Exchange. It plans to raise up to US$1.8 billion, which will be the largest listing of a Chinese auto company in the United States.