NIO hires 8 banks to work on US IPO: sources

Hong Kong

CHINESE electric vehicle startup NIO has hired eight banks, including Morgan Stanley and Goldman Sachs, to work on a planned US stock market listing this year worth up to US$2 billion, people with knowledge of the matter said.

The other banks are Bank of America Merrill Lynch, Credit Suisse, Citi-group, Deutsche Bank, JPMorgan and UBS, said the people, declining to be identified as the deal details are not public.