Chinese electric vehicle manufacturer Nio Inc – ADR NIO is tapping the capital market yet again, with the equity offering coming close on heels of capital raises by peers Xpeng Inc – ADR XPEV, Li Auto Inc. LI and Tesla Inc TSLA. What Happened: Nio said late Thursday it has commenced the offering of 60 million ADSs, each representing one Class A ordinary share of its stock. At Thursday's closing price of $45.22, the offering could be worth $2.71 billion. The company has also provided for an incremental 9 million ADSs for underwriters to cover allotment.