Nio – U.S.-listed shares surged more than 13% after the Chinese electric vehicle maker announced it will receive a cash injection of 13.3 billion yuan for its Nio China.
"Strategic investors" will provide 3.3 billion yuan of that injection, with the rest coming from Nio Inc.
The transactions, which are expected to be completed by the end of this year, will reduce Nio Inc.'s stake in Nio China to 88.3%, down from 92.1%.
This also spurred a broader rally among China stocks, which saw their best day of trading since 2008 .
Rocket Lab – Shares rose more than 3%, extending the more than 12% gains seen during Friday's session.
Persons:
Nio, Ford, Alibaba, Stocks, bitcoin, Coinbase, MicroStrategy, Bitcoin, —, Lisa Kailai Han, Sarah Min, Tanaya Macheel
Organizations:
Nio Inc, KeyBanc, CVS, Street Journal, Glenview Capital
Locations:
Nio –, China, Glenview, East, Gulf Coast