Nio announces equity investments from Abu Dhabi-linked CYVN Holdings

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Nio Inc (NYSE:NIO) said on Tuesday that it had entered into a share subscription agreement with CYVN Holdings, an investment vehicle majority owned by the Abu Dhabi Government.

CYVN Holdings will invest $738.5M in cash to subscribe 84.7M newly issued class A ordinary shares of the electric-vehicle maker for a per share price of $8.72.

Nio also said that it is aware of CYVN Holdings’ agreement with a Tencent affiliate, under which CYVN will buy 40.1M shares of Nio owned by the Tencent affiliate. CYVN will own about 7% of the Chinese EV player after the close of this transaction.

CYVN will be entitled to nominate one director to Nio’s board as long as it owns no less than 5% of the company. It will also cooperate with the EV maker to jointly pursue opportunities in its international business.

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